Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of the following is true about the price elasticity of demand for the store's goods?

We use indifference curves because

A) households on average do not care. B) they help represent preferences. C) households sometimes make mistakes. D) they formalize the production process.

If a defined benefit pension cannot, for whatever reason, make good on the promises to retirees, the

A. retirees must sue their former employer. B. pensions are paid by the Pension Guaranty Trust Corporation. C. retirees are out of luck. D. retirees get an extra payment from Social Security.