If an Atlanta bakery raises the price of their rye bread by 11 percent and the quantity demanded decreases by 11 percent, then the demand for the rye bread is ________ and the bakery's total revenue ________
A) unit elastic; does not change
B) unit elastic; increases
C) unit elastic; decreases
D) elastic; does not change
E) inelastic; does not change
A
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The leverage ratio is calculated as
a. assets minus liabilities. b. assets divided by bank capital c. the reciprocal of the required reserve ratio d. the required reserve ratio multiplied by bank capital.
When the government is heavily involved in the regulation of business activity, entrepreneurs will be encourage to spend more time and resources on
What will be an ideal response?
If an asset is considered liquid, then it:
A. can be sold quickly for cash without much loss of value. B. cannot be sold quickly for cash without much loss of value. C. can be sold quickly for cash, but tends to lose value. D. can easily be traded for other assets.
Larissa is a famous courtroom attorney. She charges clients $300 per hour for her legal services. Last year she earned $450,000 . This year, she raised her price to $350 per hour and her income increased to $490,000 . Which of the following is most likely to represent the price elasticity of demand for Larissa's legal services?
a. It is approximately 2.30. b. It is approximately 1.60. c. It is approximately 1.00. d. It is approximately 0.45. e. It is approximately 6.10.