If a $1 increase in price leads to a $1 decrease in total revenue, then demand must be elastic
Indicate whether the statement is true or false
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All the below choices are examples of promoting a firm's product, except
a. Advertising b. Pricing c. Discount coupons d. End-of-aisle displays
When the demand curve shifts to the right and supply doesn't change:
A. supply will rise. B. equilibrium quantity will rise. C. equilibrium price will fall. D. quantity demanded will rise.
The Solow Growth Model predicts that
A. the rich will get poorer and the poor will get richer. B. poor nations will grow faster than rich nations. C. rich nations will grow faster than poor nations. D. the rich will get richer and the poor will get poorer.
What is the CPI?
A. The consumer price index B. The Consumer Price Institute C. The consumer protection index D. The consumer product index