Multiple Choice
If a car dealership decides to offer a rebate to reduce the selling price of its cars and as a result finds an increase in its total revenues, then the demand for cars from this dealership is
A) price elastic.
B) price inelastic.
C) rebate inelastic.
D) unit elastic.
E) unknown.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The imposition of an excise tax on
Q5: What is the key difference between the
Q14: Statement I: A perfectly inelastic demand curve
Q53: Mathematically,elasticity is the percentage change in _
Q149: Which of the following characteristics would describe
Q190: The consumer will pay for _ of
Q228: Total revenue will increase if price<br>A)rises and
Q229: If the elasticity of demand for a
Q230: An elasticity of 1 would be considered<br>A)perfectly
Q238: On the demand curve shown in the