An owner of local salon realized that by decreasing the prices for haircuts,his revenue increased.This implies that
A) The demand for haircuts is elastic
B) The demand for haircuts is inelastic
C) The demand for haircuts is unitary elastic
D) The demand for haircuts is perfectly elastic
Correct Answer:
Verified
Q3: Jim saw a decrease in the quantity
Q23: Jim saw a decrease in the quantity
Q24: If potatoes are inferior goods,which of the
Q25: As the number of substitutes for a
Q27: Given the information above,the demand is
A)unitary.
B)indeterminate.
C)elastic.
D)inelastic.
Q29: Which one of the following is true?
A)Nike
Q30: Jim recently graduated from college.His income increased
Q31: A research firm finding concluded that the
Q32: The price elasticity of demand for a
Q33: The demand for Nike shoes will be
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents