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Author Question: If the price elasticity of demand equals 1.0, then as the price falls, the A) quantity demanded ... (Read 123 times)

waynest

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on: Jun 29, 2018
If the price elasticity of demand equals 1.0, then as the price falls, the
 
  A) quantity demanded decreases.
  B) total revenue falls.
  C) quantity demanded does not change.
  D) total revenue does not change.

Question 2

In oligopolistic markets
 
  A) there are many firms.
  B) there are no barriers to entry.
  C) there are only a few firms.
  D) all firms are price takers.


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chreslie

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

D

Answer to Question 2

C


waynest

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

gcook

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Reply 3 on: Yesterday
:D TYSM

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