Question 39 marks 2 at the unit elasticity point on

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Question39Marks: 2At the unit elasticity point on the demand curve, how is total revenue influenced by adecrease in price?Choose one answer.
a. Total revenue will decreaseb. Total revenue will increasec. Total revenue will remain roughly unchangedIncorrectMarks for this submission: 0/2.Question40Marks: 2Which of the following are major elasticities?Select all that apply.
CorrectMarks for this submission: 2/2.Question41Marks: 2Which of the following are categories of price elasticity?Select all that apply.
CorrectMarks for this submission: 2/2.Question42Marks: 2How is cross elasticity of demand calculated?
CorrectMarks for this submission: 2/2.Question43Marks: 2Which of the following measures the impact of a related firm's price on demand?Choose one answer.a. Cross-price elasticityb. Point elasticityc. Income elasticityd. Price elasticitye. Arc elasticity
CorrectMarks for this submission: 2/2.Question44Marks: 2Which of the following are elastic good and/or services?
a. Restaurant mealsb. Fresh tomatoesc. Toothpicksd. TiresCorrectMarks for this submission: 2/2.Question45Marks: 2Which category of price elasticity occurs when the coefficient of elasticity has absolutevalues greater than one?
CorrectMarks for this submission: 2/2.Question46Marks: 2A perfectly upward sloping supply curve represents which of the following?
CorrectMarks for this submission: 2/2.Question47
Marks: 2Which of the following is calculated by multiplying price times quantity?Choose one answer.a. Total costb. Elasticityc. Unit elasticityd. Total revenue
CorrectMarks for this submission: 2/2.Question48Marks: 2If an airline increased ticket prices from $1,000 to $1,050, what is the percentage of changein price?
IncorrectMarks for this submission: 0/2.Question49Marks: 2An increase in price will increase total revenue for goods with inelastic demand.Answer:
CorrectMarks for this submission: 2/2.
Question50Marks: 2If cross-price elasticity of demand is found to be less than zero, then the related firm'sproduct is determined to be which of the following?
CorrectMarks for this submission: 2/2.Finish review
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Term
Summer
Professor
N/A
Tags
Supply And Demand, air travel

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