Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
stars_and_moon stars_and_moon
wrote...
Go to Answer
Posts: 3218
Rep: 11 0
7 years ago
Your friend spent the summer roaming around a golf course collecting lost golf balls. Now he has opened up a stand selling used golf balls at the 3rd green. He currently charges $1 per ball and asks your advice about if he should change the price he charges. If the price elasticity of demand for used golf balls is 0.50, you should advise your friend to ________ the price. Since demand is ________, this will increase total revenue.
A) lower; elastic
B) raise; inelastic
C) raise; elastic
D) lower; inelastic
Read 154 times
3 Replies
Replies
Answer verified by a subject expert
kingbykingby
wrote...
#1
Top Poster
Posts: 3218
Rep: 26 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

wrote...
#2
7 years ago
Incredible!
wrote...
#3
7 years ago
Great! Now we can move on to the next one
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1344 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 390
  
 822
  
 157
Your Opinion
What percentage of nature vs. nurture dictates human intelligence?
Votes: 431
Previous poll results: Does a gender wage gap exist in America?