Suppose the president of a textbook publisher argues that a 10 ...

[LCritchfi]

Suppose the president of a textbook publisher argues that a 10 percent increase in the price of textbooks will raise total revenue for the publisher. It can be concluded that the company president thinks that demand for textbooks is:
 a. unitary elastic.
  b. inelastic.
  c. elastic.
  d. perfectly inelastic.

Question 2

If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:
 a. elastic.
  b. inelastic.
  c. perfectly inelastic.
  d. perfectly elastic.

[kswal303]

Answer to Question 1

b

Answer to Question 2

a

[LCritchfi]

Excellent

[TheDev123]

Gracias!