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

Author Question: If the demand for KFC chicken is price elastic, a fall in the price of KFC chicken will raise the ... (Read 722 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
If the demand for KFC chicken is price elastic, a fall in the price of KFC chicken will raise the total revenue.
 
  Indicate whether the statement is true or false

Question 2

If the demand and supply curves are described by the following equations P = a - bQ and P = c + dQ, respectively, the equilibrium price is P = (ad + bc) / (b + d).
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

FergA

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

TRUE


kellyjaisingh

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
:D TYSM

meganmoser117

  • Member
  • Posts: 303
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Mother giraffe and calves feeding. It is mostly the females that raise young, and they may gather in Mother giraffe and calves feeding. It is mostly the females that raise young, and they may gather in
Pineapple Chicken Pineapple Chicken
Elastic cartilage Ear Elastic cartilage Ear
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library