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

Author Question: Is there any set of relationships between price elasticity of supply and total revenue similar to ... (Read 53 times)

melly21297

  • Hero Member
  • *****
  • Posts: 565
on: Jun 29, 2018
Is there any set of relationships between price elasticity of supply and total revenue similar to the relationships between price elasticity of demand and total revenue?
 
  What will be an ideal response?

Question 2

Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 2 cents per page. With no change in demand and technology, in the long run, the price will
 
  A) remain unchanged.
  B) rise to 5 cents per page.
  C) rise to 4 cents per page.
  D) fall to 1 cent per page.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

carlsona147

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

No. When the price increases along an upward sloping supply curve, total revenue will increase whether supply is elastic or inelastic. When price decreases along an upward sloping supply curve, total revenue will decrease whether supply is elastic or inelastic.

Answer to Question 2

A


melly21297

  • Member
  • Posts: 565
Reply 2 on: Jun 29, 2018
Gracias!

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

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?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ... Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ...
Global Economic Relationships Global Economic Relationships
Total radiative forcing ~1.63 Wm-2 Total radiative forcing ~1.63 Wm-2
Blood Supply to the Lungs Blood Supply to the Lungs
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Video: Origin of organelles Animation

For a complete list of videos, visit our video library