1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Solnce55 [7]
2 years ago
14

The total-revenue test for elasticity Multiple Choice applies to the short-run supply curve but not to the long-run supply curve

. does not apply to demand, because price and quantity are inversely related. is equally applicable to both demand and supply. does not apply to supply, because price and total revenue have a positive correlation.
Business
1 answer:
Korvikt [17]2 years ago
4 0

Because price and total revenue always move simultaneously, the total revenue test for elasticity does not apply to supply.

<h3>A total revenue test: what is it?</h3>

A total revenue test calculates the change in total revenue due to a change in a product or service's price in order to estimate the price elasticity of demand.

<h3>What connection does elasticity have with total revenue?</h3>

When demand is elastic (price elasticity > 1), there is a negative relationship between price and total revenue, which means that price increases will result in drops in total revenue. When demand is unit elastic (price elasticity = 1), price changes have no impact on overall revenue.

learn more about total revenue test here <u>brainly.com/question/15842334</u>

#SPJ4

You might be interested in
When you arrive for your job interview, the interviewer greets you with a warm handshake and a smile. While you speak, he smiles
denis23 [38]

Answer:

b. He is actively engaged in your interview.

Explanation:

In most cultures, smiling implies friendliness. In the United States, nodding and maintaining consistent eye contact show interest and engagement in a conversation and respect for the speaker. By combining these three nonverbal behaviors, the interviewer is expressing active, positive interest in your interview.

7 0
2 years ago
Clem Oatley could grow wheat and barley. He could grow 75 bushels of wheat or 125 bushels of barley using the same resources on
BabaBlast [244]

Answer:

Clem should specialise in wheat production because he has higher profits there

Explanation:

Clem needs to make a decision on the product that will maximise his profits and not just the number of units of products he can manufacture.

If he produces only wheat he will have profit of 75 bushels * $2 = $150

If he produces only barley his profit will be 125 bushels * $0.80 = $100

This shows that wheat is more profitable for Clem. Even though he can produce more units of barley.

6 0
3 years ago
Read 2 more answers
Which of these are disadvantages of self-employment?
777dan777 [17]
Financial insecurity, discouragement, legal issues, long hours
4 0
3 years ago
Which of the following sentences express correct number style?
Gre4nikov [31]

Answer: a. The professional software package included Web 2.0 applications, but it cost more than $1,200.

Explanation:

A simple rule for writing a correct number style is that when writing numbers between 1 - 9 ( single digits numbers), you should spell them out. When writing anything larger however or if writing multiple numbers, you should write them as numerals.

This convention can be typically broken every now and then in certain cases. One of those cases is that, if you have a situation where you have 2 numbers in a sentence, you have to use one style for it and if the 2 numbers consist of 1 small number and 1 large number you would preferably have to use numerals.

For this reason Option A which has two numbers written as numerals is correct.

It is worthy of note however, that different styles exist as do Citation Styles and this answer is based on the most rudimentary of said styles.

4 0
2 years ago
Problems and applications q6 darnell loves playing rock 'n' roll music at high volume. jacques loves opera and hates rock 'n' ro
mafiozo [28]

Answer:

false

Explanation:

The Coase theorem states that parties in dispute should seek an optimal solution to their problem regardless of how property rights were initially distributed.

In this case, you need to find an agreement that satisfies both Darnell and Jacques regardless of who initially would have been considered to be right about the argument. Conflicts over rights to use property can be solved when parties settle on the efficient use of inputs. E.g. they could establish hours at which Darnell can listen to rock n' roll, and other hours when he shouldn't. That way both of them can enjoy the music they like and not bother the neighbors.

An optimal solution can always be reached regardless of initial distribution of rights.

7 0
3 years ago
Other questions:
  • Why is it important for natural monopolies to exist? they help the consumer decide among several suppliers for a necessary servi
    9·1 answer
  • A company receives money for the sale of its stock
    5·1 answer
  • Hannah likes to frequent Citrus, a fine dining restaurant, as she loves its beef lasagna and orders it every time she visits the
    5·1 answer
  • Which statement best illustrates the relationship between three different
    6·2 answers
  • Multiple Choice Question The business receives and immediately pays a $300 advertising bill. How would this payment affect the t
    7·1 answer
  • Assume Sybase Software is thinking about three different size offerings for issuance of additional shares. Size of Offer Public
    12·1 answer
  • Understanding opportunity cost
    7·1 answer
  • Choose the correct way to complete the sentences to explain how to draw concentric circles when doing a freehand sketch.
    13·1 answer
  • Self-management is about (1) knowing who you are and what you want to accomplish in your life, and (2) making these things happe
    13·1 answer
  • Which of the following is a true statement?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!