« previous next »

Author Question: Total revenue is the same for every price-quantity combination along a unit elastic demand curve. ... (Read 96 times)

abarnes

  • Hero Member
  • *****
  • Posts: 556
on: Jul 1, 2018
Total revenue is the same for every price-quantity combination along a unit elastic demand curve.
 a. True
  b. False

Question 2

If demand is elastic, a decrease in price leads to a decrease in total revenue.
 a. True
  b. False


macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Types of ecosystem service vs. total global value per year Types of ecosystem service vs. total global value per year
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
30-Unit Insulin Syringe 30-Unit Insulin Syringe
What is the total number of valence electrons in a silicate ion, SiO32-? What is the total number of valence electrons in a silicate ion, SiO32-?
Which of the following is not a unit factor related to a 15.0% aqueous solution Which of the following is not a unit factor related to a 15.0% aqueous solution
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library