« previous next »

Author Question: If demand is price elastic, total revenue is a. directly related to quantity demanded b. inversely ... (Read 116 times)

jho37

  • Hero Member
  • *****
  • Posts: 531
on: Jul 1, 2018
If demand is price elastic, total revenue is
 a. directly related to quantity demanded
  b. inversely related to quantity demanded
  c. directly related to price
  d. directly related to price and inversely related to quantity demanded
  e. not related to either price or to quantity demanded

Question 2

John spends exactly the same dollar amount on candy bars each week, regardless of their price. John's demand curve for candy bars is
 a. upward-sloping
  b. backward-bending
  c. perfectly inelastic
  d. perfectly elastic
  e. unit elastic


bulacsom

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

The family tree of HIV and related viruses The family tree of HIV and related viruses
Procedures and Diagnostic Tests Related to the Integumentary System Procedures and Diagnostic Tests Related to the Integumentary System
Procedures and Diagnostic Tests Related to the Integumentary System Procedures and Diagnostic Tests Related to the Integumentary System
Procedures and Diagnostic Tests Related to the Female Reproductive System Procedures and Diagnostic Tests Related to the Female Reproductive System
The original Supply and Demand graph The original Supply and Demand graph
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Structure of a Ribosome

For a complete list of videos, visit our video library