Products X,Y,and Z Have Price Elasticities of 3

question 100

Multiple Choice

Products X,Y,and Z have price elasticities of 3.0,0.80,and 1.0 respectively.Total revenue decreases if the price of

• A) product X falls.
• B) product Y falls.
• C) product Z falls.
• D) product X or product Z fall.
• E) product Y or product Z fall.

---

Definitions:

James Forten

An African American abolitionist and wealthy businessman in the 18th and early 19th centuries who made significant contributions to the efforts to end slavery in the United States.

Continental Navy

The naval force established by the American colonies during the American Revolutionary War in 1775.

Abolish Slavery

The act of ending slavery, a system in which individuals are owned by others, denying them personal freedom.

Vermont

A state in the northeastern United States known for its natural landscapes and being the first to abolish adult slavery in its constitution.