What determines how a change in prices will affect total revenue for a company?
a) elasticity of demand
b) the company's pricing policy
c) values of elasticity
d) the consumers' income
Ans: a) elasticity of demand
Economics
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In the above figure, if the minimum wage is equal to ________, there would be ________ hours of labor employed
A) $8 per hour; 4,000 B) $8 per hour; 2,000 C) $6 per hour; 3,000 D) $4 per hour; 2,000
Economics
What is the domino effect or contagion?
What will be an ideal response?
Economics
The only disease-specific group eligible for Medicare are those suffering from:
a. metastasized cancer. b. diabetes. c. end-stage renal disease. d. advanced coronary artery disease. e. AIDS.
Economics
When the output per hour of workers is high, the real wages of the workers will also be high.
A. True B. False
Economics