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1 Dec 2018
Use the table below to answer the following questions. Table 4.1.1 Demand schedule for good A. Price Quantity demander (dollars per unit) (units) 9.00 8.00 2,000 7.00 4,000 6.00 6,000 5.00 8,000 4.00 10,000 3.00 12,000 2.00 14,000 1.00 16,000 18,000 39) Refer to Table 4.1.1. If the price of good A falls from $4 to $3, A) demand is unit elastic in this range. B) total revenue will increase. C) demand is inelastic in this range. D) total revenue will remain constant. E) demand is elastic in this range.
Use the table below to answer the following questions. Table 4.1.1 Demand schedule for good A. Price Quantity demander (dollars per unit) (units) 9.00 8.00 2,000 7.00 4,000 6.00 6,000 5.00 8,000 4.00 10,000 3.00 12,000 2.00 14,000 1.00 16,000 18,000 39) Refer to Table 4.1.1. If the price of good A falls from $4 to $3, A) demand is unit elastic in this range. B) total revenue will increase. C) demand is inelastic in this range. D) total revenue will remain constant. E) demand is elastic in this range.
Elin HesselLv2
2 Dec 2018
