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Author Question: A portrait photographer produces output in packages of 100 photos each. If the output sold increases ... (Read 57 times)

lb_gilbert

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on: Jun 30, 2018
A portrait photographer produces output in packages of 100 photos each. If the output sold increases from 600 to 700 photos, total revenue increases from 1,200 to 1,400 . The marginal revenue per photo is:
 a. 200.
  b. 100.
  c. 20.
  d. 2.
  e. 1.

Question 2

To raise the most tax revenue, governments should consider taxing goods with:
 a. income elastic demands.
  b. price inelastic demands.
  c. income elastic demands.
  d. income inelastic demands.
  e. cross price elastic demands.


Dominic

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


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