Multiple Choice
Assume the price elasticity of demand for MC Pretzel Co.pretzels is 0.8.If the company increases the price of each bag of pretzels,total revenue will
A) Decrease because fewer bags will be sold.
B) Increase because demand is elastic and revenue will rise.
C) Increase because the percentage increase in price is greater than the percentage change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Demand is more inelastic in the long
Q21: If the price elasticity of demand for
Q22: To find the average percentage change in
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5715/.jpg" alt=" -If the
Q27: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5715/.jpg" alt=" - Over the
Q30: If the price elasticity of demand is
Q31: The price elasticity of supply will always
Q31: On a demand curve,demand is more elastic<br>A)At
Q36: If the price of gasoline rises by
Q68: Cross-price elasticity looks at the impact that