Multiple Choice
The demand for a good is price inelastic if
A) a rise in price results in an increase in total revenue.
B) a rise in price results in a decrease in total revenue.
C) an increase in income results in a decrease in total revenue.
D) an increase in income results in an increase in total revenue.
E) the good is a luxury.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Which of the following will have the
Q45: For which one of the following is
Q47: If the price elasticity of demand for
Q48: If the demand for a good is
Q51: Suppose the government of Nova Scotia wants
Q52: Demand will be more elastic the<br>A)higher the
Q53: If a 10 percent increase in price
Q54: The price of gasoline rises by 25
Q94: Fred's income increases from $1,950 per week
Q130: If a large percentage fall in the