If the formula for elasticity results in a measure of elasticity (E) equal to 1, the increase in sales exactly offsets the decrease in price so that total revenue remains the same.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The work product privilege:
A. considers a lawyer to be an officer of the court who is bound to work for the advancement of justice while faithfully protecting the rightful interests of his clients. B. is derived from the notion that the effective functioning of the judicial system will be undermined if a client does not feel free to speak fully and honestly with his or her attorney. C. prevents an attorney from divulging confidential information communicated to the lawyer by a client or potential client in the course of seeking to retain the attorney or otherwise seeking legal advice. D. covers information divulged to an attorney's subordinates, such as secretaries or paralegals.
Describe common stockholder rights
Which of the following is not an important reason for alliances among companies competing in high tech markets?
a. Need for rapid product development b. High development costs c. Importance of creative destruction d. Need for complementary skills e. Ability to offer customers a complete solution
Purchase discounts is credited for trade discounts allowed on purchases
Indicate whether the statement is true or false