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Title: If the demand for a good is elastic, then total revenue Post by: englishkarter on Feb 27, 2018 If the demand for a good is elastic, then total revenue
a. increases as price increases b. remains constant as quantity demanded increases c. increases as price decreases d. decreases as quantity demanded increases e. decreases as price decreases QUESTION 2 If the administration raises tuition on our campus in order to increase revenue, it will a. not be successful if the demand curve slopes downward b. be successful if demand is elastic c. be successful if demand is inelastic d. be successful if supply is elastic e. be successful if supply is inelastic QUESTION 3 The total revenue from selling trucks is equal to a. the price of a truck times the quantity sold b. the change in quantity sold divided by the change in price c. average cost times quantity produced d. the price of a truck times the quantity produced e. the price of a truck times the price elasticity of demand QUESTION 4 Total revenue is maximized where demand is inelastic. a. True b. False QUESTION 5 Price elasticity is unit elastic at the midpoint of a linear, downward-sloping demand curve. a. True b. False QUESTION 6 Elasticity rises as price falls along a linear, downward-sloping demand curve. a. True b. False Title: If the demand for a good is elastic, then total revenue Post by: cfnewb on Feb 27, 2018 Content hidden
Title: If the demand for a good is elastic, then total revenue Post by: englishkarter on Feb 27, 2018 Now I'm convinced to ask more questions :)
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