Author Question: If a firm decreases the price of a good and total revenue decreases, then A) the demand for this ... (Read 175 times)

haleyc112 · **on:** Jul 1, 2018

If a firm decreases the price of a good and total revenue decreases, then

A) the demand for this good is price elastic.
B) the demand for this good is price inelastic.
C) the cross elasticity is negative.
D) the income elasticity is less than 1.

Question 2

In the ultimatum experiment, what are the usual outcomes?

A) Proposer proposes to give the minimum positive amount to the responder in all the rounds.
B) Proposer and responder are rational all the time.
C) Proposer proposes to give about 3040 of total amount to the responders.
D) Proposer proposes to give 6070 of total amount to the responders