Top Posters
Since Sunday
8
5
z
4
n
4
t
4
3
k
3
x
3
r
3
m
3
j
3
c
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
drewster127 drewster127
wrote...
Go to Answer
Posts: 380
Rep: 1 0
5 years ago

Question 1.

At a price of $40, a store can sell 35 toasters a day. At a price of $35 the store can sell 39 toasters a day. Since total revenue ________ by the price decrease, demand must be ________.



▸ is increased; elastic

▸ is decreased; inelastic

▸ is increased; unit elastic

▸ is decreased; elastic

Question 2.

Price and total revenue are inversely related when demand is



▸ price elastic.

▸ price inelastic.

▸ unit price elastic.

▸ perfectly price inelastic.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
Read 104 times
2 Replies
Replies
Answer verified by a subject expert
jeromet1jeromet1
wrote...
#1
Posts: 386
Rep: 67 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

drewster127 Author
wrote...
#2
5 years ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  749 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 258
  
 223
  
 1147
Your Opinion
Which country would you like to visit for its food?
Votes: 262
Previous poll results: Which 'study break' activity do you find most distracting?