This topic contains a solution. Click here to go to the answer

Author Question: If a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is (Read 98 times)

DyllonKazuo

  • Hero Member
  • *****
  • Posts: 565
If a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is
◦ elastic and total revenue decreases.
◦ elastic and total revenue increases.
◦ inelastic and total revenue decreases.
◦ elastic, but we cannot tell what happens to total revenue without more information.
◦ Total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by DyllonKazuo on May 24, 2019

sailorcrescent

  • Sr. Member
  • ****
  • Posts: 334
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly





 

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

For a complete list of videos, visit our video library