Refer to the total revenue graph below. An increase in the quantity of product X demanded from 14,000 to 16,000 units implies that the price of product X was:
A. Reduced and the demand is elastic
B. Increased and the demand is elastic
C. Reduced and the demand is inelastic
D. Increased and the demand is inelastic
C. Reduced and the demand is inelastic
Economics
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Refer to Figure 18.3. After trade and specialization begin, the maximum amount of scooters that Livonia can consume is
A) 120. B) 100. C) 80. D) 40.
Economics
The developing area receiving the largest share of direct foreign investment is
(a) Africa. (b) Asia. (c) Latin America. (d) Transition economies.
Economics