Microeconomics Group Quiz--Chapter 4: 1st Quiz Given

D

if a product has a few substituents, which of the following statements is correct

B

refers to the information above to answer this question. what is the elasticity of demand in $14- $16 range

E

suppose that the price of the product increased from $1.90 to $2.10 and the quality demanded decreases from 24 to 16. what is the value of the price elasticity of demand

B

under which of the following situations will total revenue fall

C

what do products such a movies, tomatoes and resturants meals have in common

B

what does the elasticity co efficiently refers to

D

what does the term elastic demand mean

B

what has happened to a price if a price elasticity of demand is 2 and quality demanded increases by 10%

B

what is price elasticity of demands

B

what is the effect on total revenue if demand is inelastic and price rises

D

what is the formula used to calculate the price of elasicity of demand

B

what is the term for the total amount of income a firm receive from its sale