Y7

If demand for a good is price inelastic and a Manager raises price, the firm's total revenue will A. Not change B. Increase C. Decrease D. All of the above E. None of the above If the demand for some good is quite elastic with respect to its price, that good is likely A. One for which there are ni close substitutes B. A normal good C. An inferior good D. A necessary E. A luxury When American dollar depreciates A. American goods become more expensive for foreigners B. Foreign goods become more expensive for americans C. Foreign goos become less expensive for americans D. All of the above E. None of the above A normal good is one for which A. The cross price elasticity of demand is positive B. The cross price elasticity of demand is negative C. The income elasticity of demand is negative D. The income elasticity of demand is positive E. None of the above