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Author Question: Suppose the president of a textbook publisher argues that a 10 percent increase in the price of ... (Read 63 times)

LCritchfi

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  • Posts: 519
on: Jun 30, 2018
Suppose the president of a textbook publisher argues that a 10 percent increase in the price of textbooks will raise total revenue for the publisher. It can be concluded that the company president thinks that demand for textbooks is:
 a. unitary elastic.
  b. inelastic.
  c. elastic.
  d. perfectly inelastic.

Question 2

If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:
 a. elastic.
  b. inelastic.
  c. perfectly inelastic.
  d. perfectly elastic.


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kswal303

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


LCritchfi

  • Member
  • Posts: 519
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

bassamabas

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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