When demand is perfectly inelastic, an increase in price will
A) leave total revenue unchanged.
B) increase total revenue.
C) decrease total revenue.
D) either increase total revenue or decrease total revenue, but it is impossible to tell which.
B
Economics
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The fewer the stockholders in a corporation the __________ likely they are to be motivated to monitor the corporation's management, thus the __________ the severity of the manager-stockholder conflict
A) more; greater B) more; fewer C) less; greater D) less; fewer
Economics
Considering the spectrum of market structures and moving from pure competition to pure monopoly we can say that
A) entry barriers get lower but exit gets more difficult. B) entry becomes harder but exit becomes easier. C) entry gets harder and the number of firms dwindles. D) none of the above.
Economics