1.  Because of scarcity of rainfall, the price of a land decreases by 12% and its production also decreases by 4%. what is the total effect on revenue?
A. Loss of 16%
B. Gain of 15%
C. Loss of 15.48%
D. Gain of 15.48%
E. Loss of 15.52%

Answer: Option E

Explanation:

Net effect = -12 - 4 + ( -12 )( -4 ) / 100 %

               = (- 16 + 0.48)% = - 15.52%