Suppose Netflix decreases its monthly subscription fee. If doing so results in an increase in revenues raised, which of the following could be the value of the own- price elasticity of demand for Netflix subscriptions? 1. -0.9 2.0.9. 3.1.1. None of 1, 2, or 3. 1 only. 2 and 3 only. 3 only.

Suppose Netflix decreases its monthly subscription fee. If doing so results in an increase in revenues raised, which of the following could be the value of the own- price elasticity of demand for Netflix subscriptions? 1. -0.9 2.0.9. 3.1.1. None of 1, 2, or 3. 1 only. 2 and 3 only. 3 only.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose Netflix decreases its monthly subscription fee. If doing so results in an
increase in revenues raised, which of the following could be the value of the own-
price elasticity of demand for Netflix subscriptions?
1. -0.9
2.0.9.
3.1.1.
None of 1, 2, or 3.
1 only.
2 and 3 only.
3 only.

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