The definition of the economic concept of income is usually attributed to which of the following economists? J. R. Hicks
Paul Samuelson
Ben Bernanke
Adam Smith

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive

You park your car on sixth street and walk over to the quad for lunch. while crossing wright street, you are hit by a bicyclist and knocked to the ground. you hit your head so hard you are knocked out. when you wake up, the person who hit you is gone. you incur $45,000 in medical bills. the person who hit you would be liable for $150,000 in damages if you could find them. your policy will pay: