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Author Question: If the price elasticity of demand is -0.8 and the firm decreases price, revenue will a. Increase b. ... (Read 138 times)

lbcchick

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  • 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

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  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


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