If the quantity effect outweighs the price effect of a price decrease,then:
A) the good is price elastic.
B) total revenue will rise.
C) the measured elasticity must be more than 1.
D) All of these are true.
Correct Answer:
Verified
Q84: The price elasticity of supply tells us:
A)the
Q85: Suppose that when the price of pizza
Q86: Suppose that when the price of shoe
Q87: A good is inelastic if:
A)total revenue increases
Q88: If the quantity effect outweighs the price
Q90: A price increase will cause an increase
Q91: Demand tends to be more elastic:
A)when price
Q92: A good is inelastic if:
A)total revenue decreases
Q93: Elasticity along a demand curve:
A)is constant if
Q94: The size of the percentage change in
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