A Balance Sheet

question 52

Multiple Choice

A balance sheet

• A)measures flows of income and expenditure over a given period of time.
• B)measures assets,liabilities,and net worth at a giving instance in time.
• C)equates flows of revenue with flows of expenditure.
• D)None of the above are correct.

Analyze the effects of market conditions on elasticity.

Understand how taxes influence supply and demand.

Recognize the relationship between elasticity and total revenue.

Derive implications of elasticity for marketing and pricing strategies.