When price was 5, quantity demanded was 10. When price increased to 6, quantity demanded decreased to 9. Therefore, when price increased, total revenue

A. decreased from 54 to 50, indicating that demand is inelastic.
B. decreased from 54 to 50, indicating that demand is elastic.
C. increased from 50 to 54, indicating that demand is inelastic.
D. increased from 50 to 54, indicating that demand is elastic.


C. increased from 50 to 54, indicating that demand is inelastic.

Economics

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The sum of the current yield and the rate of capital gain is called the

A) rate of return. B) discount yield. C) perpetuity yield. D) par value.

Economics

What is one reason car insurance seems much cheaper than health insurance?

A) Health insurance entails more idiosyncratic than systematic risk, and therefore the gains to diversification are more dramatic. B) Car insurance entails more systematic than idiosyncratic risk, and therefore the gains to diversification are more dramatic. C) Health insurance entails more systematic than idiosyncratic risk, and therefore there are fewer gains to diversification. D) Health insurance is manipulated through market power, and car insurance is not.

Economics

Joshua consumes pizza and cola so that the marginal utility per dollar spent for the last piece of pizza consumed per week is 3 while the marginal utility per dollar spent for the last cola consumed is 1.5 . Joshua should spend more of his income on pizza and less on cola in order to maximize utility

a. True b. False

Economics

A sole proprietorship with unlimited liability and full control over daily operations is one form of business ownership

Indicate whether the statement is true or false

Economics