When demand is relatively inelastic, a 5 increase in price will: ...

[RYAN BANYAN]

When demand is relatively inelastic, a 5 increase in price will:
 a. increase total revenue by more than 5.
  b. increase total revenue by less than 5.
  c. decrease total revenue by more than 5.
  d. decrease total revenue by more than 5.

Question 2

When interest rates are higher:
 a. the opportunity cost of holding monetary assets is higher, and the quantity of money demanded, but not the demand for money, is lower.
  b. the opportunity cost of holding monetary assets is higher, and the demand for money increases.
 c. the opportunity cost of holding monetary assets is lower, and the quantity of money demanded, but not the demand for money, is greater.
  d. the opportunity cost of holding monetary assets is lower, and the demand for money increases.

[nmyers]

Answer to Question 1

b

Answer to Question 2

a

[RYAN BANYAN]

TYSM

[Joy Chen]

Thanks for the timely response, appreciate it