« previous next »

Author Question: If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity ... (Read 54 times)

cool

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price.
 
  A) elastic; increase
  B) elastic; decrease
  C) inelastic; increase
  D) inelastic; decrease

Question 2

In the figure above, with the tariff American consumers ________ million shirts per year.
 
  A) 40
  B) 48
  C) 32
  D) 16


triiciiaa

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
The learning and retention of the mirrordrawing task by H.M. Despite his good retention of the task, ... The learning and retention of the mirrordrawing task by H.M. Despite his good retention of the task, ...
How to convert percent to decimals to fractions How to convert percent to decimals to fractions
How to solve any percent change problem How to solve any percent change problem
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Video: Language Areas Animation

For a complete list of videos, visit our video library