According to the total revenue test, a price cut increases total revenue if demand is
A) inelastic.
B) perfectly inelastic.
C) elastic.
D) unit elastic.
C
You might also like to view...
If the supply of solar panels increases,
A) the price and quantity of solar panels increases. B) the demand for solar panels increases. C) the quantity demanded of solar panels decreases. D) the price of solar panels decreases and the quantity increases. E) None of the above.
If the price of airline travel in Europe falls and the demand for train travel in Europe also falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.
Ashley puts money in a savings account at her bank earning 2 percent interest. One year later she takes her money out and notes that prices rose 3 percent. Ashley earned a a. real interest rate of -1 percent due to inflation
b. real interest rate of 1 percent due to inflation. c. nominal interest rate of -1 percent due to inflation. d. nominal interest rate of 1 percent due to inflation.
the law of comparative advantage does not apply to _____ a. entire nations.
b. natural resources. c. individuals. d. firms. e. the regions of a country.