Use the following graph of total revenues to answer the question below. 
An increase in the quantity of product X demanded from 16,000 to 17,000 units implies that the price of product X was
A. reduced and the demand is inelastic.
B. increased and the demand is inelastic.
C. reduced and the demand is elastic.
D. increased and the demand is elastic.
Answer: A
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If the firm learns that the complicated technology can be made more stable with a few tweaks increasing the cost by 5.5million and increasing the probability of a launch to 50%. Is it worth for the firm to invest the $500,000 in tweaks?
a. No, because it decreases the total expected value b. Yes, because it increases expected value c. No, because it increases risk d. Yes, because tweaking is good
The concept quality-adjusted life year (QALY)
a. is a multidisciplinary approach to measuring health status. b. has little application to medical decision making. c. is used extensively in the U.S. to evaluate health care programs. d. is used extensively to evaluate medical care resource allocation within government-run programs on fixed budgets, especially in Europe. e. none of the above.