Author Question: Remembering that demand elasticity is defined as the percentage change in quantity divided by the ... (Read 58 times)

CharlieWard · **on:** Jul 1, 2018

Remembering that demand elasticity is defined as the percentage change in quantity divided by the percentage change in price, if price decreases and, in percentage terms, quantity rises more than price has dropped, total revenue will

A) increase.
B) decrease.
C) remain the same.
D) either increase or decrease.

Question 2

One possible source of inefficiency in bargaining is

A) that there are multiple Nash equilibria.
B) bounded irrationality.
C) that the Nash product may be indeterminant.
D) that the bargaining process takes time.