Assume the price elasticity of demand for mc pretzel co. pretzels is 0.8. if the company increases the price of each bag of pretzels, total revenue will

a) decrease because fewer bags will be sold.
b) increase because demand is elastic and revenue will rise.
c) increase because the percentage increase in price is greater than the percentage change in quantity demanded.
d) be impossible to predict because the percentage change in price is not known.

Dollywood corporation accumulates the following data concerning a mixed cost, using miles as the activity level. miles driven total cost january 10,000 $16,500 february 8,000 $14,500 march 9,000 $12,500 april 7,000 $12,000 compute the variable and fixed cost elements using the high-low method

Which is not an example of a cyclical company? a) airlines b) hotel industry c) medical d) theme parks

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.