f a store sells a good with elastic demand, then a decrease in the price would lead to A. a decrease in total revenue. B. an increase in total revenue. C. no change total revenue. D. a decrease in the quantity sold.

Q: 1. In the United States, 2013 was a bad year for growing wheat. And as wheat supply decreased, the…

A: a)Midpoint method of price elasticity of demand=percentage change in quantity demanded/percentage…

Q: What is the sales revenue if there will be a reduction in price and the elasticity of demand is…

A: The elasticity of demand measures the responsiveness of customers with the change in price. It is…

Q: 1. If the price of tacos increase from $2 to $3 then a. demand will increase b. demand will decrease…

A: 1. If the price of tacos increases from $2 to $3 then Quantity demanded will decrease Therefore, the…

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Q: The price elasticity of demand for personal computers is -1.5. Which of the following is true? a. An…

A: Price elasticity of demand is defined as a change in the relative quantity demanded of a good due to…

Q: A.Identify the five categories of price elasticity of demand. Briefly explain each category and…

A: Income elasticity of demand is the ratio of per change in quantity demanded to the per change in…

Q: 4 Alessandra wants to sell vegetable pasty for 6$ and she achieved to sells 50 pasties. Then she…

A: If the price is rising up to $8, we can calculate the percentage change in price and determine the…

Q: Elasticity of supply refers to the legree of responsiveness of upply of a commodity to changes

A: To find : Elasticity of supply.

Q: . Products that have elastic demand will have ______ percentage change in demand compared to the…

A: Price elasticity of demand measures the responsiveness of quantity demanded to the change in price.…

Q: 52. When demand is perfectly inelastic, an increase in price will result in A. O A decrease in total…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: 6. Income elasticity of demand for streaming video is 0.5, which indicates that streaming video is…

A: we can choose the correct option as follow-

Q: When Ms. Khadija increased the price of her products, she lost a huge number of customers. She also…

A: The elasticity measures the percentage change in the value of one variable when the other variable…

Q: 1.Suppose the price of gasoline rises from $1.89 to 2.17 per gallon, and in response the quantity…

A: price elasticity refers that change in demand due to change in price so  here we can find the answer…

Q: How would the following changes in price affect total revenue? That is, total revenue increase,…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Demand is more elastic:   a. in the short run than in the long run b. for necessities than…

A: Elasticity shows the responsiveness of quantity demanded due to the change in the price of a…

Q: If hot dogs are an inferior good, we can conclude that OA. the income elasticity of demand is…

A: Inferior good refers to the good whose demand is negatively associated with income. Or rise in…

Q: 7. If the absolute value of the own price elasticity of steak is 0.4, a decrease in price will lead…

A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…

Q: If the demand for French bread is elastic and the baker holds a French bread sale A. he will sell a…

A: The Demand Curve is the number of goods a consumer is willing to produce.The supply curve is the…

Q: An exclusive Yoghurt manufacturer sells 4,000 gallons per month at a price of GHS 40 each. When the…

A: Elasticity of demand is the responsiveness of the quantity demanded of a commodity to changes in one…

Q: If the price elasticity of supply for a good is 0.48, then this means that A. the supply is…

A: Price elasticity of supply means percentage change in quantity supplied as a result of percentage…

Q: 51. Elasticity of supply refers to the degree of responsiveness of supply a commodity to changes in…

A: According to the given question The elasticity of the supply generally refers to the  responsiveness…

Q: 70. The various quantities of a good/service that buyer will take off fromthe mark et at alternative…

A: Explanation:- Demаnd  is  the  аmоunt  оf  а  gооd  thаt  соnsumers  аre  аble  аnd  willing  tо…

Q: 11. Which of the following is not possible? Demand is perfectly inelastic, and an increase in price…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: 1.The price elasticity of demand for a liver transplant is perfectly inelastic. The price elasticity…

A: Price elasticity of demand shows the responsiveness of a percentage change in price to a percentage…

Q: The price of a slice of cheesecake increased from $4 to $5. The price elasticity of demand for…

A: Price elasticity of demand is given by Ed = -percentage change in quantity demandedpercentage change…

Q: the percentage change in quantity demanded divided by the percentage change in income B. the total…

A: Cross elasticity of demand measures the quantitative change in demand of one good following change…

Q: Rubber is an input in tires. What will definitely happen if the price of rubber decreases? Demand…

A: Demand curve different combinations of price and quantity demanded and supply curve shows different…

Q: Identify the pair of products which have negative cross elasticity of demand. O a. Bread and butter…

A: Cross elasticity of demand measures the responsiveness of percentage change in demand of related…

Q: 1.Graph what happens with the demand for: a. Icy popsicles in hot season b. Icy popsicles in winter…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: The demand of Pepsi increases as the price of Cola increases and vice versa. Determine, what type of…

A: Pepsi and Cola are substitute goods. Substitute Goods can be used in place of each other. As the…

Q: 12. For which product is the income elasticity of demand most likely to be negative?  A. Bread B.…

A: Introduction The income elasticity of demand refers to the proportionate change in a product's…

Q: Bus rides and canned soup are inferior goods, so the elasticity of demand is A. income; negative B.…

A: Given: Bus rides and canned soup are inferior goods, so the ____ elasticity of demand is ___.

Q: If demand is inelastic, a change in the price

A: To find : What will be change in price if demand is inelastic