If a good is price elastic, a decrease in price will:
A) decrease total revenue.
B) increase total revenue.
C) not affect revenue.
D) none of the above.
B
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As the U.S. exchange rate ________, the price of U.S. imports increases and the quantity supplied of dollars ________
A) falls; does not change B) falls; decreases C) rises; increases D) rises; decreases E) falls; increases
Suppose the wiz-pop market is in long-run equilibrium. Suddenly, fixed costs decrease, although variable costs remain unchanged. Discuss the short-run and long-run changes in market equilibrium.
What will be an ideal response?
If cameras and film have a cross elasticity of .985, they are complements
Indicate whether the statement is true or false
The dominant strategy for player 1 in the following game is:Player 1Player 2??t1t2t3?S14,103,01,3?S20,02,1010,3
A. S1. B. S1 and S2. C. S2. D. None of the answers is correct.