A smart phone would be considered:

If the demand for textbooks is inelastic, then an increase in the price of textbooks will

a. increase total revenue of textbook sellers. b. decrease total revenue of textbook sellers. c. not change total revenue of textbook sellers. d. There is not enough information to answer this question.

The appreciation of the U.S. dollar relative to the British pound would make a vacation trip to:

A. The United States less expensive for the British B. London less expensive for Americans C. London more expensive for Americans D. The United States of equal value for the British as a vacation trip to London for Americans