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

Author Question: If demand is price inelastic and the price is lowered, which of the following occurs? (Read 17 times)

james9437

  • Hero Member
  • *****
  • Posts: 568
on: May 24, 2019
If demand is price inelastic and the price is lowered, which of the following occurs?
◦ The quantity sold decreases.
◦ The total expenditure increases and the total revenue decreases.
◦ The total revenue of the firms selling the product is unchanged.
◦ The total revenue of the firms selling the product decreases.
◦ The total expenditure decreases and the total revenue increases.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by james9437 on May 24, 2019

dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


james9437

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: May 24, 2019
Thank you!


dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: May 24, 2019
Always glad to help...


« previous next »
 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Much time and effort occurs between the development of a research idea and the statistical analysis Much time and effort occurs between the development of a research idea and the statistical analysis
Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
The transition between steps usually occurs at a temperature that would not interfere with cold ... The transition between steps usually occurs at a temperature that would not interfere with cold ...
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Interview with Person who has Schizophrenia

For a complete list of videos, visit our video library