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Author Question: Average costs curves initially fall a. Due to declining average fixed costs b. Due to rising ... (Read 85 times)

Mr.Thesaxman

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on: Jul 1, 2018
Average costs curves initially fall
 a. Due to declining average fixed costs
  b. Due to rising average fixed costs
  c. Due to declining marginal costs
  d. Due to rising marginal costs

Question 2

When demand elasticity is ____ in absolute value (or ____), an increase in price will result in a(n) ____ in total revenues.
 a. less than 1; elastic; increase
  b. more than 1; inelastic; decrease
  c. less than 1; elastic; decrease
  d. less than 1; inelastic; increase
  e. none of the above


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momtoalll

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

d


Mr.Thesaxman

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

meow1234

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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