When demand is inelastic, an increase in price will result in an increase in total revenue.
Answer the following statement true (T) or false (F)
True
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In Figure 4-9 above, suppose LMA shifts to LMB. The distance from points A to L tells us
A) the change in income given zero interest responsiveness of Ap. B) the change in income resulting from the interest rate falling to its value at point B?. C) how much the money supply increased in producing the LM shift. D) the change in income that by itself raises the demand for money by as much as the money supply rose.
The demand for labor is:
a. derived demand. b. featherbedding demand. c. marginal utility demand. d. all of these.
When the marginal-cost curve lies above the average-total-cost curve, the average-total-cost curve slopes up and the average-variable-cost curve slopes down
a. True b. False Indicate whether the statement is true or false
The real balance effect helps to explain "a change in
A) aggregate demand." B) the quantity demanded of Real GDP." C) aggregate supply." D) the quantity supplied of Real GDP."