Multiple Choice
Suppose the price of a bus ticket rises from $2.75 to $3 and the number of tickets sold falls from 10 000 to 8500, the total revenue test:
A) shows a decrease in total revenue.
B) cannot be calculated.
C) shows no change in total revenue.
D) shows an increase in total revenue.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: If a 10 percent price increase causes
Q58: Other factors held constant, if there are
Q105: Which of the following statements is most
Q107: Which statement about price elasticity of demand
Q109: Inelastic demand is a change of less
Q111: Narrbegin Exhibit 5.3 Supply and demand curves
Q112: Consumers will reduce their demand if they
Q113: Demand sensitivity depends on all of the
Q114: The imposition of a tax on the
Q277: Price elasticity remains constant along a straight-line