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Author Question: If the demand faced by a firm is elastic, selling one less unit of output will a. increase revenue. ... (Read 21 times)

ahriuashd

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  • Posts: 535
on: Jul 1, 2018
If the demand faced by a firm is elastic, selling one less unit of output will
 a. increase revenue.
  b. decrease revenue.
  c. keep revenues constant.
  d. decrease price.

Question 2

If the demand faced by a firm is inelastic, selling one more unit of output will
 a. increase revenues.
  b. decrease revenues.
  c. keep revenues constant.
  d. increase profits.


choc0chan

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  • Posts: 362
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

b


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