Suppose that Chris had been charging $1.00 per pound for potatoes. When Chris lowered the price to $0.90 per pound, his total revenue fell. When Chris raised the price to $1.10, total revenue also fell. Which of the following could explain this?

Suppose that Chris had been charging $1.00 per pound for potatoes. When Chris lowered the price to $0.90 per pound, his total revenue fell. When Chris raised the price to $1.10, total revenue also fell. Which of the following could explain this?

A.$1.00 is the equilibrium price for potatoes.

B.$1.10 is more than Chris’s customers’ reservation prices.

C.At 90 cents, there is excess demand for potatoes.

D.The price elasticity of demand for potatoes is 1 at a price of $1.00 per pound.

正确答案：The price elasticity of demand for potatoes is 1 at a price of $1.00 per pound.

Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?

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Suppose that Chris had been charging $1.00 per pound for potatoes. When Chris lowered the price to $0.90 per pound, his total revenue fell. When Chris raised the price to $1.10, total revenue also fell. Which of the following could explain this?

相关文章

Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?

Economics is best defined as the study of:

Economics is the study of:

Economists recognize that because people have limited resources:

The Scarcity Principle states that:

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Suppose that Chris had been charging $1.00 per pound for potatoes. When Chris lowered the price to $0.90 per pound, his total revenue fell. When Chris raised the price to $1.10, total revenue also fell. Which of the following could explain this?

相关文章

Suppose you bought a concert ticket from Ticketmaster for $50, but when you got to the concert scalpers (individuals who re-sell tickets at the event) were selling tickets in the same seating area as yours for $25. What is probably true?

Economics is best defined as the study of:

Economics is the study of:

Economists recognize that because people have limited resources:

The Scarcity Principle states that:

发表评论 取消回复

发表评论取消回复