The last time the us post office raised its prices for mail, Ask an Expert

Economics

The last time the U.S. Post Office raised its prices for mail service critics of the rate increase argued that the Post Office's revenues would actually decline as a result of the price increase. It can be concluded that: A) the Post Office believes demand for mail service is elastic; opponents of the price increase believe demand is inelastic. B) both groups believe demand is inelastic, but for different reasons. C) both groups believe demand is elastic, but for different reasons. D) the Post Office believes demand for mail service is inelastic; opponents of the price increase believe demand is elastic.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707822

Have any Question?Write your Review or question?

Related Questions in Business Economics

Describe a study you might conduct in which it would be

Describe a study you might conduct in which it would be appropriate to compute a Pearson r(i.e., a study with one group of participants with two scores per participant). Predict if you perceive that the r-value would be ...

Under what circumstances would lras and sras have the same

Under what circumstances would LRAS and SRAS have the same slope?

How might profit maximization lead to higher demand for

How might profit maximization lead to higher demand for female workers and result in female workers earning higher wages than male workers in the same firm?

What should ngos non-governmental organization do in

What should NGOs (non-governmental organization) do in regions of conflict or war? The benefits of having NGO's personnel in such regions outweigh the risks?

Why does some workers earn higher wages than others some

Why does some workers earn higher wages than others, some landowners higher rental income than others, and some capital owners greater profit than others? (Example)Why, in particular, do computer programmers earn more th ...

A biased coin has probability 06 of turning up heads you

A biased coin has probability 0.6 of turning up heads. You win $x if a head comes up and you lose $y if a tail comes up. If your expected winnings is $0, what is the relationship between x and y?

Consider the following cournot oligopolythere are two

Consider the following Cournot oligopoly: There are two identical firms in the industry, which set their quantities produced simultaneously. The two firms face a market demand curve, Q = 120 - P, in which Q = q1 + q2. Ea ...

Sppose a and b are collectively exhaustive in addition pa

Suppose A and B are collectively exhaustive. In addition, P(A) = 0.2 and P(B) = 0.8. Suppose C and D are both mutually exclusive and collectively exhaustive. Further, P(C|A) = 0.7 and P(D|B) = 0.5. What are P(C) and P(D) ...

Some people eg hayek argue that decentralization of

Some people (e.g Hayek) argue that decentralization of economic decisions in the economy lead to an efficient resource allocation. What differences exist within the firm that make the link between decentralization and ef ...

Given two eventsnbspgnbspandnbsph the probabilities of

Given two events G and H , the probabilities of each occurring are as follows: P( G ) = 0.22; P( H ) = 0.34; P( H AND G ) = 0.09. Using this information: Find the complement of P ( H AND G ). Round to 2 places.

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert