This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose an increase in symphony tickets prices reduces the total revenue. This is evidence that ... (Read 90 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Suppose an increase in symphony tickets prices reduces the total revenue. This is evidence that demand is:
 a. price elastic.
  b. price inelastic.
  c. unitary elastic.
  d. perfectly elastic.

Question 2

Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of the following is true about the price elasticity of demand for the store's goods?
 a. Demand is perfectly inelastic.
  b. Demand is inelastic, but not perfectly.
  c. Demand is unitary classic.
  d. Demand is elastic, but not perfectly.
  e. Demand is perfectly elastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blakeserpa

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


Collmarie

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
:D TYSM

rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Eclipse Paths for Total and Annular Eclipses 2001–2020 Eclipse Paths for Total and Annular Eclipses 2001–2020
The overlapping relationship among research, evidence-based practice The overlapping relationship among research, evidence-based practice
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Agricultural Land as a Fraction of Total Wealth in the United Kingdom Agricultural Land as a Fraction of Total Wealth in the United Kingdom
A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that A phylogenetic tree showing the evolutionary relationships among hominoids. The evidence shows that
Experimental evidence of cytoplasmic localization in an amphibian oocyte. Experimental evidence of cytoplasmic localization in an amphibian oocyte.
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library