Author Question: If the demand is , a fall in price total revenue. A) elastic; increases B) ... (Read 92 times)

Pea0909berry · **on:** Jun 29, 2018

If the demand is ________, a fall in price ________ total revenue.

A) elastic; increases
B) elastic; decreases
C) inelastic; increases
D) inelastic; does not change

Question 2

The above table shows the short-run total product schedule for the campus book store. When the fifth employee is hired, the marginal product is ________ and is ________ the average product.

A) increasing; greater than
B) increasing; less than
C) decreasing; greater than
D) decreasing; less than