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Author Question: If the demand for KFC chicken is price elastic, a fall in the price of KFC chicken will raise the ... (Read 630 times)

kellyjaisingh

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on: Jun 29, 2018
If the demand for KFC chicken is price elastic, a fall in the price of KFC chicken will raise the total revenue.
 
  Indicate whether the statement is true or false

Question 2

If the demand and supply curves are described by the following equations P = a - bQ and P = c + dQ, respectively, the equilibrium price is P = (ad + bc) / (b + d).
 
  Indicate whether the statement is true or false


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FergA

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

TRUE


kellyjaisingh

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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