« previous next »

Author Question: If demand is price elastic, total revenue is a. directly related to quantity demanded b. inversely ... (Read 98 times)

jho37

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

A

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Some red squirrels adopt the offspring of related individuals, a likely example of kin selection pro Some red squirrels adopt the offspring of related individuals, a likely example of kin selection pro
The niche of Spartina anglica is related to tidal fluctuations. The niche of Spartina anglica is related to tidal fluctuations.
Mammals posses a number of physiological pathways related to stress. One example is the hypothalamic Mammals posses a number of physiological pathways related to stress. One example is the hypothalamic
Alan Price - Poor People Alan Price - Poor People
Procedures and Diagnostic Tests Related to the Female Reproductive System Procedures and Diagnostic Tests Related to the Female Reproductive System
What is the total resistance of the circuit in Figure 1? 150 What is the total resistance of the circuit in Figure 1? 150
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library