QUESTION 1

If the demand for widgets is elastic, with respect to price, a widget seller can increase his revenue by raising the price of widgets.

True

False

QUESTION 2

Suppose the price of zercs fell from $8.00 to $7.55, causing the quantity of zercs demanded to rise from 2,100 to 2,280 units. Use the midpoints formula to compute the price elasticity of demand. Enter the number with one decimal place and ignore minus sign:

QUESTION 3

In the above question, the total revenue from the sale of zercs:

	A.	went up as a result of the price decrease
	B.	went down as a result of the price decrease.
	C.	stayed the same, despite the price decrease
	D.	cannot be determined from the information given.

question 4

Bb Module IV -- Elasticity - 2021FA- X Bb Take Test: Test 4 - 2021FA-ECN-1 x Consider the two demand curves x course hero - Bing X *Homework Help - Q&A from On x + X -> C & https://pgcconline.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_547009_1&course_id=_394480_1&content_id=_13729410_1&step=. to Not syncing . . . Question Completion Status: QUESTION 19 2.5 points Save Answer Consider Scenario #1: The black curves represent the original equilibrium supply and demand. Assume the government imposes a production tax of $t per unit of output. ? Scenario 1 Scenario 2 P P W D D 71 m Q Q Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit Type here to search O W 72.F Sunny ~ 0 9 0 /4x 12:52 PM 10/7/2021Bb Module IV -- Elasticity - 2021FA- X Bb Take Test: Test 4 - 2021FA-ECN-1 X Consider the two demand curves x course hero - Bing X *Homework Help - Q&A from On x + X -> C & https://pgcconline.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_547009_1&course_id=_394480_1&content_id=_13729410_1&step=. Not syncing . . . Question Completion Status: Demand for sandwiches at Joe's Deli in Ocean City P P ? D D Q Q DSR DLR Consider the two demand curves pictured above. Which is the more elastic demand curve for sandwiches? (enter your answer as DSR or DLR) In this picture, DSR stands for demand in the short run and DLR stands for demand in the long run. QUESTION 5 20 points Saved Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit Type here to search O 1A W 72OF Sunny ~ 0 9 0 / 4 x 12:59 PM 10/7/2021