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Author Question: If the demand for a product is price inelastic, a. producers' revenues will increase if supply ... (Read 194 times)

anjilletteb

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on: Jul 1, 2018
If the demand for a product is price inelastic,
 a. producers' revenues will increase if supply increases
  b. producers' revenues will increase if supply decreases
  c. a small change in price will cause a large shift in the demand curve
  d. a large change in price will cause a small shift in the demand curve
  e. a small change in price will cause a small shift in the demand curve

Question 2

If the demand for airline tickets to Fort Lauderdale is price elastic,
 a. airline revenue will increase if supply increases
  b. airline revenue will increase if supply decreases
  c. a small change in price will cause a large shift in the demand curve
  d. a large change in price will cause a small shift in the demand curve
  e. a large change in price will cause a large shift in the demand curve


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cascooper22

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


anjilletteb

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  • Posts: 569
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

ryansturges

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  • Posts: 338
Reply 3 on: Yesterday
Great answer, keep it coming :)

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