Consider the market for bicycles. If a dealer cuts prices by 10 percent and sells 20 percent more bikes, then demand for bicycles is
a. inelastic, and total revenue will increase
b. elastic, and total revenue will increase
c. inelastic, and total revenue will decrease
d. elastic, and total revenue will decrease
e. unit elastic, and total revenue will remain the same
B
Economics
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Which of the following is NOT a way in which power was divided up in the Federal Reserve System?
A) between bankers and business interests B) among states and regions C) between importers and exporters D) between government and the private sector
Economics
The resource-based view indicates that firms exhibit different performances within the same industry because
a. there is less buyer power b. there are economies of scale present c. some firms have superior resources d. there is less competition
Economics