If the price elasticity of demand for tuna is 0.7, then a 1.5% increase in the price of tuna will decrease the quantity demanded of tuna by
A.
1.05%, and tuna sellers' total revenue will increase as a result.
B.
1.05%, and tuna sellers' total revenue will decrease as a result.
C.
2.14%, and tuna sellers' total revenue will increase as a result.
D.
2.14%, and tuna sellers' total revenue will decrease as a result.