Total revenue falls as the price of a good decreases if the price elasticity of demand is
a. Elastic
b. Inelastic
c. Unitary elastic
d. Perfectly inelastic
b
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If the expected rate of return on investment decreases, then most likely the
A. consumption schedule will shift downward. B. consumption schedule will shift upward. C. investment schedule will shift downward. D. investment schedule will shift upward.
The response in quantity demanded to a price increase in subway rides:
A. will be more elastic in six weeks than in six months. B. will be less elastic in six weeks than in six months. C. will be the same over that time period. D. is unpredictable without more information.
IBM undertook a massive restructuring program to decentralize into six smaller decision-making groups in order to reduce economies of scale
a. True b. False
There has been an unmistakable steady trend toward bigness in business since
A. the Civil War. B. 1911. C. the mid-1930s. D. the late-1990s.