Refer to the above diagram. If price is reduced from P1 to P2, total revenue will:
A. increase by C minus A.
B. decrease by A minus C.
C. increase by A minus C.
D. decrease by C minus A.
Answer: A
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Launching the simplified version would be a mistake for probabilities less than ___?
a. 0.6 b. 0.7 c. 0.8 d. 1.0
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A. not rival in consumption and not excludable. B. not rival in consumption, but excludable. C. rival in consumption, but not excludable. D. rival in consumption and excludable.