This topic contains a solution. Click here to go to the answer

Author Question: Elasticity measures how sensitive consumers are by measuring their change in ____ as the price of ... (Read 73 times)

aabwk4

  • Hero Member
  • *****
  • Posts: 593
Elasticity measures how sensitive consumers are by measuring their change in ____ as the price of the product changes.
 a. attitude
  b. income
  c. quantity demanded
  d. supply
  e. taxes

Question 2

You are part of a local community theater group. It is the goal of the group to increase the amount of revenue earned through ticket sales. Mary says the obvious solution is to increase ticket prices. Is Mary correct?
 a. Mary is correct if the demand for tickets is price inelastic.
  b. Mary is incorrect if the demand for tickets is price inelastic.
  c. Mary is correct. The increase in ticket prices will always increase revenue.
  d. Mary is incorrect. The increase in ticket prices will never increase revenue.
  e. Mary is incorrect. The way to increase revenue is to decrease ticket prices.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

recede

  • Sr. Member
  • ****
  • Posts: 315
Answer to Question 1

c

Answer to Question 2

a




aabwk4

  • Member
  • Posts: 593
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Medication errors are three times higher among children and infants than with adults.

For a complete list of videos, visit our video library