When demand is ________, a decrease in price ________ total revenue. unit elastic; increases elastic; does...
When demand is ________, a decrease in price ________ total revenue.
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unit elastic; increases |
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elastic; does not change |
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elastic; decreases |
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inelastic; decreases |
Homework Answers
Ans) the correct option is d) inelastic ; decreases
When the demand is inelastic, a decrease in price will not lead to a large change in quantity demanded so total revenue will decrease
Add Answer to:
When demand is ________, a decrease in price ________ total
revenue.
unit elastic; increases
elastic; does...
When prices decrease, total revenue O A. rises when demand is price elastic. O B. falls when demand is unit elastic O C...
When prices decrease, total revenue O A. rises when demand is price elastic. O B. falls when demand is unit elastic O C. rises when demand is price inelastic O D. falls when demand is price elastic.
Demand can either be elastic, inelastic or unit elastic Total revenue can increase, decrease, or stay...
Demand can either be elastic, inelastic or unit elastic
Total revenue can increase, decrease, or stay the same
Please provide the work done :)
Refer to the demand schedule below Quantity demanded Price 80 70 60 50 40 30 20 10 50 100 150 200 250 300 350 400 a. Suppose the price increases from $10 to $20. Demand is inelasticand total revenue increases b. Suppose the price increases from $30 to $40. Demand is (inelastic $) and total revenue...
Total revenue a) always increases as price increases b) increases as price increases, as long as...
Total revenue a) always increases as price increases b) increases as price increases, as long as demand is elastic c) decreases as price increases, as long as demand is inelastic d) remains unchanged as price increases when demand is unit elastic
1)Explain what it means when demand is inelastic? 2) If demand is elastic, total revenue will...
1)Explain what it means when demand is inelastic? 2) If demand is elastic, total revenue will increase when the price decreases? True or False? 3) The price elasticity of supply will be a smaller number when it is relatively easy for sellers to increase their supply. ( True or False)? 4) Demand is more elastic when the absolute value of the price elasticity of demand is larger. ( True or False)? 5) If the quantity demanded of one good increases...
Equilibrium price must decrease when demand a. increases and supply does not change, when demand does...
Equilibrium price must decrease when demand a. increases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously. b. decreases and supply does not change, when demand does not change and supply increases, and when demand increases and supply decreases simultaneously. c. increases and supply does not change, when demand does not change and supply decreases, and when demand increases and supply decreases simultaneously. d. decreases and supply does...
Price and marginal revenue (dollars per bottle) The graph shows Minnie's demand curve and marginal revenue...
Price and marginal revenue (dollars per bottle) The graph shows Minnie's demand curve and marginal revenue curve. At what price is Minnie's total revenue maximized and over what price range is the demand for water elastic? Why will Minnie not produce a quantity at which the market demand is inelastic? a Minnie's total revenue is maximized at a price of $ bottle. 56 The demand for water from Minnie's is elastic between the prices of a bottle. O A. zero...
36. A decrease in price will increase the total revenue a firm receives if the demand...
36. A decrease in price will increase the total revenue a firm receives if the demand for its product is: a. zero elastic b. perfectly inelastic c. inelastic d. elastic
Which of the following is a true statement? A. If demand is inelastic and the price...
Which of the following is a true statement? A. If demand is inelastic and the price increases, the total revenue will increase. OB. If demand is inelastic and the price increases, the total revenue will decrease. C. If demand is elastic and the price increases, the total revenue will increase. D. If demand is elastic and the price decreases, the quantity demanded will decrease. Reset Selection MacBook Air
If the demand for swordfish is price elastic and the price of swordfish increases, then the...
If the demand for swordfish is price elastic and the price of swordfish increases, then the quantity of swordfish demanded will increase the total revenue from swordfish sales will decrease the total revenue from swordfish sales will increase the total revenue from swordfish sales will not change
9. Elasticity and total revenue The following graph shows the demand curve for kumquats. Points A,...
9. Elasticity and total revenue The following graph shows the demand curve for kumquats. Points A, B, C, and D mark price ranges over which you will be asked to calculate the price elasticity of demand for this good. Use the purple rectangle labeled Total Revenue (diamond symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, select the shaded area with your mouse. You will not be graded...
When prices decrease, total revenue O A. rises when demand is price elastic. O B. falls when demand is unit elastic O C. rises when demand is price inelastic O D. falls when demand is price elastic.
Demand can either be elastic, inelastic or unit elastic
Total revenue can increase, decrease, or stay the same
Please provide the work done :)
Refer to the demand schedule below Quantity demanded Price 80 70 60 50 40 30 20 10 50 100 150 200 250 300 350 400 a. Suppose the price increases from $10 to $20. Demand is inelasticand total revenue increases b. Suppose the price increases from $30 to $40. Demand is (inelastic $) and total revenue...
Total revenue a) always increases as price increases b) increases as price increases, as long as demand is elastic c) decreases as price increases, as long as demand is inelastic d) remains unchanged as price increases when demand is unit elastic
Price and marginal revenue (dollars per bottle) The graph shows Minnie's demand curve and marginal revenue curve. At what price is Minnie's total revenue maximized and over what price range is the demand for water elastic? Why will Minnie not produce a quantity at which the market demand is inelastic? a Minnie's total revenue is maximized at a price of $ bottle. 56 The demand for water from Minnie's is elastic between the prices of a bottle. O A. zero...
36. A decrease in price will increase the total revenue a firm receives if the demand for its product is: a. zero elastic b. perfectly inelastic c. inelastic d. elastic
Which of the following is a true statement? A. If demand is inelastic and the price increases, the total revenue will increase. OB. If demand is inelastic and the price increases, the total revenue will decrease. C. If demand is elastic and the price increases, the total revenue will increase. D. If demand is elastic and the price decreases, the quantity demanded will decrease. Reset Selection MacBook Air
If the demand for swordfish is price elastic and the price of swordfish increases, then the quantity of swordfish demanded will increase the total revenue from swordfish sales will decrease the total revenue from swordfish sales will increase the total revenue from swordfish sales will not change
9. Elasticity and total revenue The following graph shows the demand curve for kumquats. Points A, B, C, and D mark price ranges over which you will be asked to calculate the price elasticity of demand for this good. Use the purple rectangle labeled Total Revenue (diamond symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, select the shaded area with your mouse. You will not be graded...
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