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Author Question: If demand is price elastic, total revenue is a. directly related to quantity demanded b. inversely ... (Read 124 times)

jho37

  • Hero Member
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  • 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
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  • Posts: 329
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

E


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