Author Question: If demand is inelastic, an increase in the price will A) decrease total revenue. B) increase ... (Read 147 times)

londonang

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If demand is inelastic, an increase in the price will
 
  A) decrease total revenue.
  B) increase total revenue.
  C) not change total revenue.
  D) increase the quantity demanded.

Question 2

A tax that is imposed by the importing country when an imported good crosses its international boundary is called
 
  A) an import quota.
  B) dumping.
  C) a voluntary export restraint.
  D) a tariff.



adf223

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Answer to Question 1

B

Answer to Question 2

D



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