« previous next »

Author Question: If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity ... (Read 88 times)

cool

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price.
 
  A) elastic; increase
  B) elastic; decrease
  C) inelastic; increase
  D) inelastic; decrease

Question 2

In the figure above, with the tariff American consumers ________ million shirts per year.
 
  A) 40
  B) 48
  C) 32
  D) 16


triiciiaa

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Take a good look at this woman Take a good look at this woman
Testing Infant’s Understanding of Quantity Testing Infant’s Understanding of Quantity
When using forearm pressure on the top of the shoulder, push with your back foot to increase your ... When using forearm pressure on the top of the shoulder, push with your back foot to increase your ...
Almonds and other nuts are also good sources of protein Almonds and other nuts are also good sources of protein
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: ETC Protein Complexes & Chemiosmosis (Total ATP Production and ATP Synthase)

For a complete list of videos, visit our video library