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 594 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?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

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?

If you could remove all of your skin, it would weigh up to 5 pounds.

In 2010 protesters in Washington, D.C., demanded that the Obama administration support liberalized i In 2010 protesters in Washington, D.C., demanded that the Obama administration support liberalized i
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Electrode placement for chest leads V1–V6. Electrode placement for chest leads V1–V6.
Will the sun rise tomorrow? Are you sure? “Cause and effect” vs. sense experience. Will the sun rise tomorrow? Are you sure? “Cause and effect” vs. sense experience.
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
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: Polysaccharides

For a complete list of videos, visit our video library