If the demand for orange juice is elastic, then as the price falls, quantity demanded for orange juice will ________ and total revenue for orange suppliers will ________.
A: increase; increase
B: decrease; increase
C: decrease; decrease
D: increase; decrease
A: increase; increase
B: decrease; increase
C: decrease; decrease
D: increase; decrease
举一反三
- If the demand for orange juice is elastic, then as the price falls, quantity demanded for orange juice will ________ and total revenue for orange suppliers will ________.
- Which of the following will definitely occur when there is an increase in demand for and a decrease in supply of milk? A: an increase in equilibrium quantity B: a decrease in equilibrium quantity C: a decrease in equilibrium price D: an increase in equilibrium price.
- If a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is
- An increase in market supply and an increase in market demand will result in A: A decrease in equilibrium price and an increase in equilibrium quantity B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate C: An increase in equilibrium quantity and the change in price is unclear D: all of above
- 中国大学MOOC: If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the left.