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Assume the demand for cheese is price elastic.

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Assume the demand for cheese is price elastic. Which of the following describes the effect of a rise in demand for cheese?

A.

Higher price, more sold, fall in revenues of cheese makers

B.

Higher price, less sold, fall in revenues of cheese makers

C.

Higher price, more sold, rise in revenues of cheese makers

D.

Higher price, less sold, rise in revenues of cheese makers

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