The total revenue effect of a movement along a demand curve can best be predicted using the
A. Law of demand.
B. Utility-maximizing rule.
C. Law of diminishing marginal utility.
D. Price elasticity of demand.
Answer: D
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If the law of demand holds, then
A. the demand curve has a negative slope. B. the demand curve has a positive slope. C. the demand curve shifts whenever the price changes. D. the diminishing marginal utility is not valid.
Refer to Table 20-19. Looking at the table above, what is the rate of growth of the average price level from 2015 to 2016?
A) 1% B) 2% C) 3.5% D) 4.76% E) 5.25%
The most common form of price discrimination in international trade is
A) dumping. B) non-tariff barriers. C) Voluntary Export Restraints. D) preferential trade arrangements. E) product boycotts.
Whenever any firms in a concentrated industry merge, the four firm concentration ratio: a. will rise
b. may rise or stay the same. c. may rise or fall. d. will fall.