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 39 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
Great answer, keep it coming :)

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

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.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

(PDB ID 1MBO) Orientation of the protein is similar in (PDB ID 1MBO) Orientation of the protein is similar in
(a) Homologous traits are similar due to shared ancestry. (b) Analogous traits (bats’, birds’, and f (a) Homologous traits are similar due to shared ancestry. (b) Analogous traits (bats’, birds’, and f
The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Total radiative forcing ~1.63 Wm-2 Total radiative forcing ~1.63 Wm-2
Similar-looking, related species that are native to distant geographic realms Similar-looking, related species that are native to distant geographic realms
Video: Acid-base imbalances - respiratory acidosis and alkalosis

For a complete list of videos, visit our video library