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 596 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?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
How to solve any percent concentration problem How to solve any percent concentration problem
Percent of oxygen in the atmosphere versus altitude. Percent of oxygen in the atmosphere versus altitude.
The Rise and Fall of Separation Anxiety The Rise and Fall of Separation Anxiety
Belief that premarital sex is “not wrong at all,” Canada, 1975—2016 (in percent) Belief that premarital sex is “not wrong at all,” Canada, 1975—2016 (in percent)
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Requirements for nervous signals

For a complete list of videos, visit our video library