When total revenue remain unchanged when there is a change in price, demand is
A) unit-elastic.
B) inelastic.
C) elastic.
D) not related.
A
You might also like to view...
In order to predict behavior, economic models must be realistic.
Answer the following statement true (T) or false (F)
Suppose the annual rate of interest is r%. Which of the following statements is then true of the future value of $1,000 for a time of T years?
A) Irrespective of whether the sum of $1,000 is borrowed or lent, the future value in both cases will equal (1 - r)T × (1,000). B) Irrespective of whether the sum of $1,000 is borrowed or lent, the future value in both cases will equal (1 + r)T × (1,000). C) If $1,000 is borrowed, the future value will equal (1 + r)T × (1,000), but if it is lent out, the future value will equal (1 - r)T × $1,000. D) If $1,000 is borrowed, the future value will equal (1 - r)T × (1,000), but if it is lent out, the future value will equal (1+ r)T × $1,000.
First-come, first-serve allocation schemes promote efficiency
Indicate whether the statement is true or false
Real interest rate will decrease if
What will be an ideal response?