This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the total revenue test? What will be an ideal response?[br][br][b][color=#9E3EA8]Question ... (Read 77 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
on: Jun 29, 2018
What is the total revenue test?
 
  What will be an ideal response?

Question 2

If Blake can pick more cherries in one hour than Cody, then Blake has a comparative advantage in cherry picking.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

alexisweber49

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

The total revenue test is a method of estimating the price elasticity of demand by observing the change in total revenue, given a change in price, holding all other things constant. The total revenue test shows that a price cut increases total revenue if demand is elastic, decreases total revenue if demand is inelastic, and does not change total revenue if demand is unit elastic.

Answer to Question 2

FALSE


nramada

  • Member
  • Posts: 580
Reply 2 on: Jun 29, 2018
Wow, this really help

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Immune Response Immune Response
Badly burned exhaust valve. A compression test could have detected a problem, and a cylinder ... Badly burned exhaust valve. A compression test could have detected a problem, and a cylinder ...
A Mono-Diff test in which the presumptive well contains the patient's serum mixed with ... A Mono-Diff test in which the presumptive well contains the patient's serum mixed with ...
How to combine and sketch transformations of a sinusoidal function (Question 1) (y=a*sin⁡b(x−c)+d) How to combine and sketch transformations of a sinusoidal function (Question 1) (y=a*sin⁡b(x−c)+d)
Blue Eye Color Blue Eye Color
Eco question 2 Eco question 2
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library