25 Jul WHICH WOULD BE THE RESPONSE IN EQUILIBRIUM PRICE AND QUANTITY IF DEMAND DROPS DURING THE MARKET PERIOD?
Elasticity along a demand curve t Show more Please EXPLAIN with DETAILED explanation why the answer is B false Elasticity along a demand curve that is a straight line is always equal to the slope of the line. A) True B) False Please EXPLAIN with DETAILED why the answer is B If a store deals in a good that has a unitary elastic demand what would be the net results on their total revenue of an increase in price? A) There is not enough information to answer this question. B) The net change would be zero so no change in total revenue. C) There would be a decrease in total revenue. D) There would be an increase in total revenue. Please explain why the answer is A Demand for a product category may be inelastic while the demand for specific brands of this product may be elastic. A) True B) False Please EXPLAIN why the answer is B and NOT a?? Which would be the response in equilibrium price and quantity if demand drops during the market period? A) both price and quantity fall B) only price falls C) only quantity falls D) There is no change in either price or quantity. Show less
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