If the demand for a good is price inelastic and the good price is increased, then the marginal revenue (MR) received by the seller will
A) not change.
B) decrease.
C) increase.
D) Cannot be determined from this information
C
You might also like to view...
Soran is risk averse. If her wealth rises by $100, her total utility increases by 300. If her wealth increases, her total utility will decrease
A) by more than 300. B) by less than 300. C) by 300. D) by some amount that cannot be determined without more information.
The concept that relates how much one variable changes as another variable changes is
A) slope. B) line. C) curve. D) graph.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Which of the following provides public assistance to those who are blind and otherwise disabled?
A. Medicare. B. Supplemental Security Income (SSI). C. Medicaid. D. TANF.