If demand is elastic, then when price rises, total revenue will decrease.

If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis the indifference curves:

A) will be straight lines with a slope of -1/2. B) will be straight lines with a slope of -1. C) will be straight lines with a slope of +1/2. D) will be right angles whose corners occur on a ray from the origin with a slope of +2. E) none of the above

Explain why baseball ticket prices may increase when a team pays a new player a large salary, but will remain unchanged when a current player gets a salary increase

What will be an ideal response?