When the own price elasticity of good X is ?3.5, then total revenue can be increased by:
A. decreasing the quantity supplied.
B. decreasing the price.
C. increasing the price.
D. neither increasing the price, decreasing the price, nor decreasing the quantity supplied.
Answer: B
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A small, one-unit change in value is called a marginal change
Indicate whether the statement is true or false
An expansionary monetary policy results in lower interest rates, which in turn
A) reduces the international price of the dollar and increases net exports. B) increases the foreign demand for U.S. financial instruments, lowering the international price of the dollar and decreasing net exports. C) reduces the foreign demand for U.S. financial instruments and reduce net exports. D) increases foreign demand for U.S. financial instruments, raising the international price of the dollar and reducing net exports.