If the price elasticity of demand is equal to 2,the good has ________ demand.
A) elastic
B) inelastic
C) unitary elastic
D) restrictive
Correct Answer:
Verified
Q46: A price decrease will cause total revenue
Q47: Higher prices will increase total revenue if
A)Demand
Q48: Sam owns a taco restaurant,and he conducted
Q49: If Carmen's Coffee Company wants to increase
Q50: The local baseball team owner hires you
Q52: If demand is elastic,then
A)An increase in price
Q53: If the price of Good X falls
Q54: If the elasticity of demand for cigarettes
Q55: Total revenue is
A)Price times income.
B)Quantity sold times
Q56: Total revenue is equal to
A)The income from
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