KFC raises the price of its grilled chicken. The price elasticity of demand for KFC grilled chicken is 0.8. What happens to the KFC's total revenue?
A) nothing
B) It increases.
C) It decreases.
D) It becomes negative.
E) It might change, but more information is needed to determine if it increases, decreases, or does not change.
B
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In comparison to an employer in a competitive labor market, a monopsony employer pays a ________ wage rate and hires ________ workers
A) lower; fewer B) lower; more C) higher; more D) higher; fewer
Jeff Kaufman decides to bank with Paris First National Bank (PFN). He opens a checking account by depositing $1,000 . According to the PFN balance sheet, after this initial $1,000 demand deposit, there are $1,000 in
a. reserves and $1,000 in demand deposits b. liabilities and $2,000 in demand deposits c. demand deposits and $0 in assets d. assets and $0 in liabilities e. reserves and $0 in liabilities
A college requesting applicants to submit their high school transcripts is an example of:
A. signaling. B. statistical discrimination. C. screening. D. building a reputation.
Based on the table, the largest change in aggregate demand takes place during the ______.
a. change in government purchases
b. first change in consumption purchases
c. second change in consumption purchases
d. final change in consumption purchases