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Author Question: If the price elasticity of demand for a product equals 1, as its price rises the A) quantity ... (Read 85 times)

tichca

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on: Jun 29, 2018
If the price elasticity of demand for a product equals 1, as its price rises the
 
  A) quantity demanded increases.
  B) total revenue increases.
  C) quantity demanded does not change.
  D) total revenue does not change.

Question 2

Firms that can price discriminate between customers do so to ________.
 
  A) increase consumer surplus
  B) increase employment
  C) increase their profit
  D) decrease the quantity they produce
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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TDubDCFL

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


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