If Taco Bell determines that the demand for its food is elastic, Taco Bell should raise its price to increase its total revenue
Indicate whether the statement is true or false
FALSE
You might also like to view...
The championship game will be held next weekend in your college's 40,000-seat stadium. The supply of tickets to the game:
A. is perfectly inelastic. B. is elastic. C. will increase because the price charged will be higher. D. depends on which teams make it to the championship game.
Compared to 1960, in 2008 the proportion of retirees living in poverty has fallen from 35 percent to about _________ percent.
A. 5 percent B. 10 percent C. 15 percent D. 20 percent
In the short run, whenever excess demand exists, it is necessary to
A. put the good on sale. B. ration the good. C. increase the supply of the good. D. impose a price ceiling on the good.
In the money market, an excess supply of money will:
A) increase the demand for bonds, increase bond prices, and decrease interest rates. B) increase the demand for bonds, decrease bond prices, and decrease interest rates. C) decrease the demand for bonds, increase bonds prices, and increase interest rates. D) decrease the demand for bonds, decrease bond prices, and increase interest rates.