This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose an increase in symphony tickets prices reduces the total revenue. This is evidence that ... (Read 88 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Suppose an increase in symphony tickets prices reduces the total revenue. This is evidence that demand is:
 a. price elastic.
  b. price inelastic.
  c. unitary elastic.
  d. perfectly elastic.

Question 2

Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of the following is true about the price elasticity of demand for the store's goods?
 a. Demand is perfectly inelastic.
  b. Demand is inelastic, but not perfectly.
  c. Demand is unitary classic.
  d. Demand is elastic, but not perfectly.
  e. Demand is perfectly elastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blakeserpa

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


Collmarie

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
Wow, this really help

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Cellular mechanisms that increase protein diversity Cellular mechanisms that increase protein diversity
(a) Age of maturity of Atlantic cod decreased during the fishery collapse. (b) Evidence of maturatio (a) Age of maturity of Atlantic cod decreased during the fishery collapse. (b) Evidence of maturatio
Evidence of Numerical Estimation Evidence of Numerical Estimation
Early geologists discovered evidence of past glaciations in U-shaped valleys Early geologists discovered evidence of past glaciations in U-shaped valleys
The evidence of metabolites from gut microbiota. The evidence of metabolites from gut microbiota.
The origin and spread of modern H. sapiens, reconstructed from genetic and fossil evidence. The origin and spread of modern H. sapiens, reconstructed from genetic and fossil evidence.
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library