« previous next »

Author Question: When demand is price inelastic: a. price and total revenue move in the same direction. b. price ... (Read 135 times)

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
When demand is price inelastic:
 a. price and total revenue move in the same direction.
  b. price and total revenue move in the opposite direction.
  c. total revenue increases whether price goes up or down.
  d. total revenue decreases whether price goes up or down.

Question 2

The price elasticity of demand for gasoline measures the:
 a. responsiveness of gasoline producers to changes in the quality of gasoline.
  b. responsiveness of customers to changes in the price of gasoline.
  c. responsiveness of consumer preferences to changes in the quality of gasoline.
  d. both a and c above.


tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
Reply #2 on: Jun 30, 2018
Correct answers!


tashiedavis420

  • Sr. Member
  • ****
  • Posts: 329
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Lithotripsy. The direction of a sound pulse crushes the stones into smaller fragments that can be pa Lithotripsy. The direction of a sound pulse crushes the stones into smaller fragments that can be pa
4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ... 4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ...
Circular friction around the ankle with the fingertips. Applying pressure with the fingertips, move ... Circular friction around the ankle with the fingertips. Applying pressure with the fingertips, move ...
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Income per Capita versus Total Fertility Rate Income per Capita versus Total Fertility Rate
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Oxygen transport - methods and oxyhemoglobin

For a complete list of videos, visit our video library