Author Question: The demand for movies is unit elastic if A) a 5 percent decrease in the price leads to an ... (Read 35 times)

pragya sharda · **on:** Jun 29, 2018

The demand for movies is unit elastic if

A) a 5 percent decrease in the price leads to an infinite increase in the quantity demanded.
B) a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded.
C) any increase in the price leads to a 1 percent decrease in the quantity demanded.
D) a 5 percent increase in the price leads to a 5 percent increase in total revenue.

Question 2

Which of the following statements about U.S. international trade in 2013 is CORRECT?

A) The value of U.S. exports exceeded the value of U.S. imports.
B) The value of U.S. exports was about 33 percent of the value of total U.S. production.
C) The United States imported only goods.
D) The United States was the world's largest trader.