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If demand is unit-elastic throughout the demand curve, then total revenues are

zmudasam

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If demand is unit-elastic throughout the demand curve, then total revenues are

Question 1.

Total revenues reach a maximum when

• demand is elastic.

• demand is unit-elastic.

• demand is inelastic.

• price elasticity is at a minimum.

Question 2.

If demand is unit-elastic throughout the demand curve, then total revenues are

• maximized at the midpoint of the demand curve.

• lower the higher the price.

• greater the higher the price.

• the same for any price the firm charges.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 78 times

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jesika1122

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5 years ago

More solutions for this book are available here

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zmudasam Author

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5 years ago

Good timing, thanks!

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