If a decrease in the price of theater tickets increases the total revenue earned by the theater, this is evidence that demand is:
a. price elastic.
b. price inelastic.
c. unitary elastic.
d. perfectly inelastic.
a
Economics
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Market economies are more decentralized than planned economies
a. True b. False
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Which of the following is true for a monopolist?
A. It faces a perfectly elastic demand curve. B. It must lower its price on all of its units in order to sell any additional units. C. It faces many competitors. D. Its marginal revenue curve is equal to its demand curve.
Economics