Suppose that Victoria and her friends are running a fundraiser by selling donuts. They want to know what will happen to their revenue if they increase the price of each donut from $0.80 to $1. What concept do they need to apply to find out their expected revenue?
A. price elasticity of supply
B. price elasticity of demand
C. cross elasticity of demand
D. income elasticity of demand
Answer: B
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The era of bank panics in the United States was effectively ended by
A) establishing the Fed as lender of last resort. B) implementing the gold standard. C) abandoning the gold standard. D) introducing deposit insurance.
A regular payment received by stockholders for each share they own is called a:
A. bond. B. dividend. C. capital gain. D. coupon payment.
The fact that invention is based largely on fixed costs and is a public good means that which of the following is not relevant to the process?
A. Average total cost B. Marginal cost C. External cost D. Average variable cost
The ________ interest rate equals the ________ interest rate minus ________.
What will be an ideal response?