If the price elasticity of demand coefficient equals 2 then:
a. a 7 percent decrease in the price will result in a 14 percent decrease in the quantity demanded.
b. a price decrease will increase total revenue.
c. the good has an inelastic demand.
d. there is likely few substitutes, a short time period under consideration, or this good accounts for a relatively small percentage of consumers' budgets.
Question 2
If a good has a price elasticity of demand coefficient less than one, then:
a. this good has an elastic demand.
b. this good has an inelastic demand.
c. a 10 percent increase in the price will result in a greater than 10 percent decrease in the quantity demanded.
d. the demand curve will be vertical.
Any number of crossovers gives 50 percent recombinants
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
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The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.