Along a downward-sloping linear demand curve, total revenue is greatest if demand is
a. inelastic
b. elastic
c. inelastic when prices are high
d. elastic when prices are high
e. unit elastic
E
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Based on the information in the above table, the price of A is $3, the price of B is $2, and the price of C is $5. If Mary has $22 to spend, what combination of products A, B, and C should she buy in order to maximize her satisfaction?
Operations of the Trading Desk of the Federal Reserve Bank of New York are typically conducted
A) no more often than once per week. B) within a one-hour period during each day. C) no more often than once per month. D) once a year.
Which of the following pairs of goods would be considered complementary?
a. Coca-Cola and Pepsi b. computers and computer software c. radios and televisions d. mass transit and private automobiles e. compact discs and cassette tapes
A particular brand of shampoo costs 6 Canadian dollars in Toronto. The nominal exchange rate is about 1.2 and the real exchange rate is .90 . These numbers imply that the U.S. dollar price of the same shampoo is about
a. $7.99 b. $6.49 c. $5.39 d. $4.49