« previous next »

Author Question: When demand is price inelastic: a. price and total revenue move in the same direction. b. price ... (Read 74 times)

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
When demand is price inelastic:
 a. price and total revenue move in the same direction.
  b. price and total revenue move in the opposite direction.
  c. total revenue increases whether price goes up or down.
  d. total revenue decreases whether price goes up or down.

Question 2

The price elasticity of demand for gasoline measures the:
 a. responsiveness of gasoline producers to changes in the quality of gasoline.
  b. responsiveness of customers to changes in the price of gasoline.
  c. responsiveness of consumer preferences to changes in the quality of gasoline.
  d. both a and c above.


tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
Reply #2 on: Jun 30, 2018
Correct answers!


tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
During their annual migration, the entire population of Arctic terns move from the Arctic Ocean in t During their annual migration, the entire population of Arctic terns move from the Arctic Ocean in t
Shingles effleurage with hands parallel to the spine and to the direction of movement. Shingles effleurage with hands parallel to the spine and to the direction of movement.
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
The original Supply and Demand graph The original Supply and Demand graph
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Mutations and translation

For a complete list of videos, visit our video library