If demand is elastic and price is lowered, total revenue will ______. a) rise b) fall c)
Question:
If demand is elastic and price is lowered, total revenue will ______.
a) rise
b) fall
c) stay the same
d) possibly rise or possibly fall
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
If demand is elastic and the price is lowered total revenue will a rise Elastic demand ...View the full answer
Answered By
Joemar Canciller
I teach mathematics to students because I love to share what I have in this field.
I also want to see the students to love math and be fearless in this field.
I've been tutoring these past 2 years and I would like to continue what I've been doing.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Statement 1 . A perfectly elastic demand curve has an elasticity of zero. Statement 2. When demand is elastic and price is raised, total revenue will fall. a) Statement 1 is true, and statement 2 is...
-
For each of the following, identify whether total revenue rises, falls, or remains constant: (a) Demand is inelastic and price falls. (b) Demand is elastic and price rises (c) Demand is unit elastic...
-
Calculate the following integral approximately by using the Simpson's method: 3.6 f. f(x) dx X 0.0 0.6 1.2 1.8 2.4 3.0 3.6 f(x) 0 0.13 0.05 0.6 0.43 0.74 0.93
-
Larry, Curly, and Moe companies operate in the same industry. Each company provided financial information to the public containing three ratios for 2018 and 2019. Required: Explain which company...
-
Derive an expression for the thickness t of a plano-convex lens with diameter d, focal length f, and refractive index n.
-
Cumene process with drag (purge) streams. In Example 8.7, a process for producing cumene by the alkylation of benzene with propylene is described. The flowsheet for the process is given in Figure...
-
The Reynolds Corporation buys from its suppliers on terms of 3/17, net 45. Reynolds has not been utilizing the discounts offered and has been taking 45 days to pay its bills. Mr. Duke, Vice President...
-
Let r(t)=(5-t, 4t - 3, 7t) and P(4, 1, 7). (a) Find the arc length function s(t) for the curve measured from the point P in the direction of increasing t. (b) Reparametrize the curve with respect to...
-
Over time the supply of a particular good or service tends to ______. a) become more elastic b) become less elastic c) stay about the same
-
If demand is inelastic and price is raised, total revenue will ________. a) rise b) fall c) stay the same d) possibly rise or possibly fall
-
(a) Briefly cite the main differences between ionic, covalent, and metallic bonding. (b) State the Pauli exclusion principle.
-
At what point can an employee with mental health be fired? Also, what steps can be taken to support the employee.
-
Explain the different types of loss on the spectrum including: primary loss secondary loss cumulative loss integration of loss
-
How can firms seek to form a culture that protects employees from sexual harassment? 2. What should firms do when victims allege retaliation for reporting sexual harassment
-
The impact of STEM Education on students performance in Kentucky Stakes; Answer the following qestions . Purpose of the Study - Applied Research Questions Study Population Population Justification...
-
Your father loans you 12,000 and his repayment schedule requires 1,317.54 at the end of the year for the next 15 years , what interest rate is he charging?
-
What are the risks and benefits of expanding the Disney brand in new ways?
-
Identify the source of funds within Micro Credit? How does this differ from traditional sources of financing? What internal and external governance mechanisms are in place in Micro Credit?
-
A firm has fixed costs of $60 and variable costs as indicated in the table at the bottom of this page. Complete the table and check your calculations by referring to question 4 at the end of Chapter....
-
Indicate how each of the following would shift the (1) Marginal-cost curve, (2) Average-variable-cost curve, (3) Average-fixed-cost curve, (4) Average-total-cost curve of a manufacturing firm. In...
-
Suppose a firm has only three possible plant-size options, represented by the ATC curves shown in the accompanying figure. What plant size will the firm choose in producing? (a) 50, (b) 130, (c) 160,...
-
Dr. Sulaiman Alhabib Medical Services Group stock sells for SAR 75 per share, and you've decided to purchase 200 shares. You have $15,000 available to invest. a)Construct your equity account balance...
-
On Monday, May 15, 2017, you bought (traded) the XZX, Inc. 8.25% corporate bonds with a trading value of $96.50 price. The coupon payments are paid on March 31 and September 30. Using the 360-day...
-
The expected return of the market portfolio is 8% and the risk-free rate is 2%. Hedge fund A has an expected return of 10%, a beta of 1.5, and a standard deviation of 20%. Hedge fund B has an...
Study smarter with the SolutionInn App