As you move up along a straight-line demand curve,
A) the price elasticity of demand decreases in size.
B) the price elasticity of demand increases in size.
C) total revenue always decreases.
D) total revenue always increases.
E) total revenue never changes.
B
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In economics as well as in social relations in general, clear and concise information
A) eliminates the need for cooperation. B) guarantees effective cooperation. C) makes cooperation easier to achieve. D) makes cooperation more difficult to achieve.
Which of the following is not an example of price discrimination?
A) Unlike foreign tourists, citizens of Cambodia are exempted from paying an admission fee to the temples of Angkor. B) Senior citizens may purchase special fare tickets for public transportation that are not available to others. C) Adobe Systems offers software at discounted prices to students and faculty at K-12 and university levels. D) Buyers at an automotive parts store receive a discount for bulk buying because the store is able to pass on to its customers some of the lower average cost for producing large quantities.