Homework answers / question archive / 1)Not yet answered Points out of 1 Tag question Suppose at a recent Japanese film festival rational cinephile Laura faced a choice: see Ikiru, tickets to which cost $6, or see Tokyo Story, tickets to which cost $8

1)Not yet answered Points out of 1 Tag question Suppose at a recent Japanese film festival rational cinephile Laura faced a choice: see Ikiru, tickets to which cost $6, or see Tokyo Story, tickets to which cost $8

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1)Not yet answered Points out of 1 Tag question Suppose at a recent Japanese film festival rational cinephile Laura faced a choice: see Ikiru, tickets to which cost $6, or see Tokyo Story, tickets to which cost $8. Suppose further that Laura chose to see Tokyo Story. Answer true or false to the following statement. Laura's expected pleasure from seeing Tokyo Story could have been equal to her expected pleasure from seeing Ikiru. Select one: A. True B. False

2)Module 1- Assignment-Fall 2020 - Protected View - Saved to this PC References Mailings Review View Help ain viruses. Unless you need to edit, it's safer to stay in Protected View Search Enable Editing 17- A decrease in supply a) Encourages consumers to consume more. b) Encourages consumers to consume less. c) Only affects the behavior of producers. d) None of the above. 18-A 10 percent increase in the price of Pepsi, decreased its quantity demanded by 40 percent. Price elasticity of demand is: a)-1/4 b) 4 c) 4 d) 1/4 e) None. 19. Consider the following demand curve. Assume that the price elasticity of demand at point Eis-2. Which of the following is correct? a) Demand is elastic at point A and inelastic at point B. b) Demand is elastic at point B and inelastic at point A. c) Demand is elastic and point A but we cannot make any conclusion about point B. d) Demand is inelastic at point A but we cannot make any conclusion about point B.

3)With unitary elasticity of demand,

Percentage increase in price reduces quantity by equal percentage so that total revenue is constant

Percentage increase in price leaves quantity demanded unchanged so that total revenue is constant

Percentage increase in price reduces quantity demanded by 1 % so that change in total revenue can increase or reduce