Moving Along a Straight Line Demand Curve, Where Demand Is__________

question 62

Multiple Choice

Moving along a straight line demand curve, where demand is__________ , marginal revenue is__________ .

• A) elastic; equal to one
• B) elastic; negative
• C) inelastic; positive
• D) inelastic; negative

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Definitions:

Variable Costs

Variable costs are expenses that change in proportion to the activity or volume of a business operation, such as materials and labor.

CCA Class

Capital Cost Allowance Class, a Canadian tax classification system for categories of depreciable property.

Book Value

is the net value of a company's assets found on its balance sheet, subtracting liabilities from the total value of assets.

Resell

The act of selling something that one has purchased to another buyer, often for a price higher than the original purchase price.