If total revenue rises as price rises, then the demand for the product is _________________ (elastic, inelastic).

Total revenue increases if price ________ and demand is ________.

Q P TR AR MR 6 $2,050 $12,300 $2,050 $2,050 12 $1,950 A $1,950 B 18 $1,850 $33,300 C $1,650 24 $1,750 D $1,750 E Table 1.3   In Table 1.3, E is $______

Q P TR AR MR 110 $2,150 $236,500 $2,150 $2,150 220 $1,950 A $1,950 B 330 $1,750 $577,500 C $1,350 440 $1,550 D $1,550 E Table 1.5   In Table 1.5, B is $________

When firms collude, they usually do so to

When there are more substitutes for a product, the ________ for the product is ________.

When the price of coffee decreases 5%, quantity demanded increases 5%. The price elasticity of demand for coffee is ________ and total revenue from coffee sales will ________.

DeBeers’ diamond monopoly results from

Individual sellers in a commodity market are called

Answer one question. Compare and contrast two of the works you have studied.   1. Discuss how and to what effect contrast has been used in two works you have studied. 2. It is the role of literature to challenge and confront the conventional values of a society. In what ways, and to what extent, have conventional values been challenged in two works you have studied? 3. Discuss how one or more of the formal characteristics of a genre influence meaning in two works you have studied. 4. In the past it was believed that literature achieved its importance due to its ability to show people the way to goodness and virtue. To what extent can this be said of the importance of two of the works you have studied?