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

Author Question: If a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is (Read 595 times)

DyllonKazuo

  • Hero Member
  • *****
  • Posts: 565
on: May 24, 2019
If a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is
◦ elastic and total revenue decreases.
◦ elastic and total revenue increases.
◦ inelastic and total revenue decreases.
◦ elastic, but we cannot tell what happens to total revenue without more information.
◦ Total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information.
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 DyllonKazuo on May 24, 2019

sailorcrescent

  • Sr. Member
  • ****
  • Posts: 334
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


DyllonKazuo

  • Hero Member
  • *****
  • Posts: 565
Reply #2 on: May 24, 2019
Excellent


sailorcrescent

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Any number of crossovers gives 50 percent recombinants Any number of crossovers gives 50 percent recombinants
Varicosis. (a) Varicose veins develop due to the failure of valves in the superficial veins of the l Varicosis. (a) Varicose veins develop due to the failure of valves in the superficial veins of the l
Classic Supply - Demand Curve Classic Supply - Demand Curve
Price of Computers, 1982–2010 Price of Computers, 1982–2010
AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ... AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ...
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library