The above figure shows the demand curve for movie rentals from Redbox. Which of the following is TRUE?
A) Consumer expenditure on movie rentals will always increase whenever Redbox lowers its price.
B) Redbox will receive more total revenue if it charges $4.00 per movie rental rather than $3.00.
C) The price elasticity of demand for movie rentals falls as Redbox raises its price.
D) The demand for movie rentals is more price inelastic at $1.00 than it is at $1.50.
D
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The productivity standard for the distribution of income can be thought of as
A) rewarding people according to their ability to produce useful goods. B) benefiting only the least productive worker. C) proving that egalitarians are correct. D) rewarding only the wealthy.
Changes in the price of a product can cause
a. A movement along the demand curve b. A shift of the demand curve c. A shift of the supply curve d. All of the above