If a university charged a lower price for tuition during summer school than during the regular session, in search of added total revenue,
a. administrators likely believe that demand is more elastic during summer school than during the regular session.
b. administrators likely believe that demand is less elastic during summer school than during the regular session.
c. it indicates nothing about likely differences in the elasticity of demand during summer school than during the regular session.
d. administrators likely believe that demand is both lower and less elastic during summer school than during the regular session.
a
You might also like to view...
The United States issues a $10,000 debt forgiveness to Argentina. How is this accounted for in the balance of payments?
A) financial account, U.S. asset import B) current account, Argentina transfer payment C) current account, U.S. service export D) financial account, U.S. asset export E) current account, Argentina good import
The antitrust legislation that forbids a company from selling goods on the condition that the purchaser must deal exclusively with that company is the
A) Sherman Act. B) Robinson-Patman Act. C) Fair Trade Commission Act. D) Clayton Act.
Which countries had double digit inflation rates for most of the first decade in the twenty- first century?
a. Nigeria, Turkey, Venezuela, Myanmar b. Indonesia, Iran, Belarus, the Russian Federation c. Nigeria, Indonesia, the Russian Federation, Turkey d. Indonesia, Iran, Nigeria, the Russian Federation
?Suppose a perfectly competitive firm and industry is in long-run equilibrium and the firm earns an economic profit in the short run. Which of the following is likely to occur in the long run?
a. ?The market supply curve will shift to the right, and the market price will decrease. b. ?The market supply curve will shift to the left, and the market price will increase. c. ?The firm will continue to earn economic profit. d. ?There will be an increase in the amount of economic profit earned by the firm. e. ?Industry output will decrease.