« previous next »

Author Question: If the price elasticity of demand for a product equals 1, as its price rises the A) quantity ... (Read 95 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
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
Buy Test-Bank


TDubDCFL

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Age and Grammatical Knowledge The challenge of learning a second language rises with age. Source: J Age and Grammatical Knowledge The challenge of learning a second language rises with age. Source: J
Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Importance of Considering Gestalt Principles in Product Design (2 of 2) Importance of Considering Gestalt Principles in Product Design (2 of 2)
The phenotype of an organism is the product of interactions The phenotype of an organism is the product of interactions
Video: Chemical Synapse Animation

For a complete list of videos, visit our video library