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

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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