As you move down a demand curve, if a decrease in price from $11 to $9 increased total revenue, then further decreases below $9 would also increase total revenue
a. True
b. False
Indicate whether the statement is true or false
False
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What is the political basis for policies such as farm price ceilings and high taxation of agriculture? Are urban residents well served by such policies?
What will be an ideal response?
When the U.S. government runs a deficit, the savings in the market for loanable funds shifts:
A. right, decreasing interest rates and increasing domestic investment and NCO. B. left, increasing interest rates and decreasing domestic investment and NCO. C. right, increasing interest rates, and increasing domestic investment and NCO. D. left, decreasing interest rates and increasing domestic investment and NCO.
As the price of tomatoes fell from $2.50 to $2.00, the quantity imported from Mexico fell from 1,800 tons to 900 tons. The elasticity of supply of tomatoes imported from Mexico is:
A. 5. B. 0.25. C. 3.0. D. 0.3.
Suppose the country of Quasiland experienced a decrease in real GDP and people were laid off from their jobs. The people would be considered part of
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) discouraged workers.