A decrease in demand will:
a. reduce total revenue
b. increase total revenue.
c. increase total revenue only if demand is inelastic.
d. increase total revenue only if demand is elastic.
a. reduce total revenue
Economics
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If the elasticity measure equals 3.5, then the demand is
A) elastic. B) unit elastic. C) inelastic. D) infinitely elastic.
Economics
When the interest rate decreases, the amount of loanable funds demanded in the market:
a) decreases; this causes a movement up and to the left along the demand curve. b) increases; this causes a movement down and to the right along the demand curve. c) decreases; the entire demand curve shifts left. d) increases; the entire demand curve shifts right.
Economics