« 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 51 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?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Alan Price - Poor People Alan Price - Poor People
Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
Outcome of myocardial infarction. Forty percent of 1-week survivors have late complications ... Outcome of myocardial infarction. Forty percent of 1-week survivors have late complications ...
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Effect of an Increase in gA,2 on Productivity and Output Effect of an Increase in gA,2 on Productivity and Output
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Video: Rods and Cones Animation

For a complete list of videos, visit our video library