« previous next »

Author Question: If the price elasticity of demand is -0.8 and the firm decreases price, revenue will a. Increase b. ... (Read 121 times)

lbcchick

  • Hero Member
  • *****
  • Posts: 550
on: Jul 1, 2018
If the price elasticity of demand is -0.8 and the firm decreases price, revenue will
 a. Increase
 b. Decrease
 c. Stay constant
 d. become zero, they would lose all their customers

Question 2

If the roommates played the game repeatedly where one roommate not cleaning this time would trigger the other roommate not cleaning next time, the Nash equilibrium is most likely to be
 a. John cleans, Joe doesn't
  b. Joe cleans, John doesn't
  c. Both of them clean
 d. Neither of them clean


batool

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Increase in Obesity among U.S. Children and Adolescents Increase in Obesity among U.S. Children and Adolescents
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Factors that Increase Cardiac Output Factors that Increase Cardiac Output
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library