Which of the following describes a situation in which demand must be inelastic?
a - Total revenue decreases by 10 percent when the price of spats rises by 10 percent.
b - Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent.
c - Total revenue increases by more than 10 percent when the price of spats rises by 10 percent.
d - Total revenue decreases by $10 when the price of spats rises by $10.
e - Total revenue decreases by more than $10 when the price of spats rises by $10.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following describes a situation in which demand must be inelastic? a - Total revenue decreases by 10 percent when the price of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The APT itself does not provide guidance concerning the factors that one might expect to determine risk premiums.
Answers (1)
Robin and Bellman, both merchants, orally agree to a contract for the sale of $5000 of accessories. Bellman, the buyer, sends to Robin, the seller, a written confirmation of the sale, which is sufficient against Bellman under the statute of frauds
Answers (1)
If Robert wishes to cash out his annuity at age 70 after having it for over 40 years, what should he know about prior to doing it?
Answers (1)
Sams Publishing recently reported $10,750 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreciation. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 40%.
Answers (1)
On June 20, Blaney Company purchased 2,000 shares of ABC Company common stock for $32 per share. These shares are categorized as having insignificant influence ... On September 8, Blaney Company receives $.60 per share in dividends from ABC Company.
Answers (1)
New Questions in Business
Beaver Construction purchases new equipment for $38,160 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for six years (72 months) and have no resale or scrap value at the end.
Answers (1)
Identify an advantage of working in teams. O A. Strong work ethics O B. Less wasted time O C. More ideas O D. Less skills SUBI
Answers (2)
Identify the major task that must be mastered in early adulthood, according to levinson.
Answers (1)
Ctual total factory overhead incurred $ 28,175 Standard factory overhead: Variable overhead $ 3.10 per unit produced Fixed overhead ($12,000/12,000 predicted units to be produced) $ 1 per unit Predicted units produced 12,000 units Actual units
Answers (1)
The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $800 and $400, respectively.
Answers (1)