Which of the following is not possible?
a. Demand is elastic, and a decrease in price causes an increase in revenue.
b. Demand is unit elastic, and a decrease in price causes an increase in revenue.
c. Demand is inelastic, and an increase in price causes an increase in revenue.
d. Demand is perfectly inelastic, and an increase in price causes an increase in revenue.
b
You might also like to view...
The demand for U.S. produced packaged food products in foreign countries is expected to
A) grow. B) slow down. C) remain constant. D) fluctuate.
If banks have $10 million in legal reserves, $70 million in check able deposits, and a reserve requirement of 10 percent, they can still expand the money supply by
a. $10 million. b. $20 million. c. $30 million. d. $50 million.
An example of a flow variable is
a. the number of cars in the United States today b. the current value of your wealth c. the population of Mexico d. income e. the number of sweaters a clothing store has on its shelves
The dramatic rise in the dollar between 1981 and 1986 was the result of a(n)
a. a tight monetary and a tight fiscal policy. b. an expansive monetary and an expansive fiscal policy. c. an expansive monetary and a tight fiscal policy. d. a tight monetary and an expansive fiscal policy.