Author Question: Before its IPO, Facebook was an example of a private firm. As a private firm, Facebook was A) not ... (Read 32 times)

sammy · **on:** Jun 29, 2018

Before its IPO, Facebook was an example of a private firm. As a private firm, Facebook was

A) not subject to government regulations and taxation.
B) not legally allowed to raise funds through venture capital firms.
C) run by stockholders and a board of directors.
D) run by its founder, Mark Zuckerberg.

Question 2

Refer to Table 6-1. Suppose you own a bookstore. You believe that you can sell 40 copies per day of the latest John Grisham novel when the price is 35.

You consider lowering the price to 25 and believe this will increase the quantity sold to 50 books per day. Compute the price elasticity of demand using the midpoint formula and these data. Select the correct implication from your work.
A) The demand for the John Grisham book is elastic. Revenue will rise if the price is lowered.
B) The demand for the John Grisham book is elastic. Revenue will fall if the price is lowered.
C) The demand for the John Grisham book is inelastic. Revenue will fall if the price is lowered.
D) The demand for the John Grisham book is inelastic. Revenue will rise if the price is lowered.

Brenm · **Reply #1 on:** Jun 29, 2018

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