Author Question: Refer to Figure 6-7. Using the total revenue test to verify the price elasticity between points a ... (Read 100 times)

kamilo84

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Refer to Figure 6-7. Using the total revenue test to verify the price elasticity between points a and b on the demand curve, demand is
 
  A) perfectly inelastic. B) perfectly elastic. C) elastic. D) unit-elastic.

Question 2

Refer to Figure 3-2. An increase in the number of firms in the market would be represented by a movement from
 
  A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.



fwbard

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Answer to Question 1

D

Answer to Question 2

C



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fwbard

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