Which of the following describes a situation in which demand must be elastic?
a. Total revenue increases by 15 percent when the price of corn dogs rises by 15 percent.
b. Total revenue increases by less than 15 percent when the price of corn dogs rises by 15 percent.
c. Total revenue decreases by more than 15 percent when the price of corn dogs rises by 15 percent.
d. Total revenue increases by 15 when the price of corn dogs rises by 15.
e. Total revenue increases by more than 15 when the price of corn dogs rises by 15.
Question 2
Which of the following describes a situation in which demand must be inelastic?
a. Total revenue decreases by 10 percent when the price of spats rises by 10 percent.
b. Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent.
c. Total revenue increases by more than 10 percent when the price of spats rises by 10 percent.
d. Total revenue decreases by 10 when the price of spats rises by 10.
e. Total revenue decreases by more than 10 when the price of spats rises by 10.
Population predictions for 2000–2050, using three different total fertility rates (
Total radiative forcing ~1.63 Wm-2
China has relied on cheap coal to meet its demand for energy
The demand for cheap coal to generate electrical power is rising
Total Fitness and Wellness, Brief Edition, 4th Edition
Total parenteral nutrition through a catheter in the right subclavian