Refer to the scenario above. What is likely to be the impact on Firm B's sales if Firm B decides to sponsor the event while Firm A decides not to sponsor the event?

In the figure above, when the price falls from $5 to $4, the price elasticity of demand is

A) 2. B) 3. C) 0.75. D) 1.5. E) 0.33.

For the recession of 2007-2009, it took ________ for real GDP to return to its cyclical peak

A) about 18 months B) about 2 year C) about 3.5 years D) almost 5 years