The price elasticity of demand for a textbook

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The price elasticity of demand for a textbook is estimated to be 1 no matter what the price or quantity demanded. In this case:

A) a 10 percent increase in price will result in a 10 percent decrease in the quantity demanded.

B) an increase in price will decrease the total revenue of sellers.

C) a decrease in price will increase the total revenue of sellers

D) a 10 percent increase in price will result in a 10 percent increase in the quantity demanded.

Reference no: EM131109446

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