Assume That When Price Is $20,quantity Demanded Is 9 Units,and

question 10

Multiple Choice

Assume that when price is $20,quantity demanded is 9 units,and when price is $19,quantity demanded is 10 units.Based on this information,we can conclude that over the price range from $19 to $20,demand is price:

• A)elastic.
• B)unit elastic.
• C)inelastic.
• D)cannot be determined.

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Definitions:

Profit Margin

A financial metric that measures the amount of net income earned with each dollar of sales generated by comparing the profit and the revenue.

Total Asset Turnover

A financial measure that calculates the ability of a company to turn its assets into sales revenue.

Return On Total Assets

A financial ratio that measures a company's ability to generate profit from its assets.

Return On Total Assets

A measure of a company's profitability relative to its total assets, indicating how effectively it uses its assets to generate earnings.