This topic contains a solution. Click here to go to the answer

Author Question: If a firm decreases the price of a good and total revenue decreases, then A) the demand for this ... (Read 166 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
If a firm decreases the price of a good and total revenue decreases, then
 
  A) the demand for this good is price elastic.
  B) the demand for this good is price inelastic.
  C) the cross elasticity is negative.
  D) the income elasticity is less than 1.

Question 2

In the ultimatum experiment, what are the usual outcomes?
 
  A) Proposer proposes to give the minimum positive amount to the responder in all the rounds.
  B) Proposer and responder are rational all the time.
  C) Proposer proposes to give about 3040 of total amount to the responders.
  D) Proposer proposes to give 6070 of total amount to the responders



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cloud

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

B

Answer to Question 2

C




haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jul 1, 2018
Wow, this really help


parker125

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

 

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

For a complete list of videos, visit our video library