Multiple Choice
As the owner of a kayak tour business was looking over her financial records, she noticed that when the shop down the street increased the price of stand-up paddleboard tours by 10%, kayak tour sales increased by 15%. How might her sales be impacted if the paddleboard tour price is lowered by 20%?
A) Her sales would rise by 25%.
B) Her sales would fall by 5%.
C) Her sales would fall by 30%.
D) Her sales would rise by 20%.
Correct Answer:

Verified
Correct Answer:
Verified
Q168: An inferior good is a good that<br>A)
Q169: If oranges cost $4 a bag last
Q170: (Figure: Determining Consumer and Producer Surplus) Based
Q171: Which of these would result in a
Q172: Products on which consumers spend a large
Q174: Goods that are normally consumed together, such
Q175: If a product's price rises by 6%
Q176: In the short run, producers have the
Q177: Using the midpoint method, the price elasticity
Q178: Demand for which of the following would