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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

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Answer:

d. $10.

Explanation:

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Susan and Rebecca enter into a work agreement where Rebecca hires Susan to dog sit for her. Susan will be working and is expected to pay taxes on the income received. Rebeca will be attending a wedding, which is not an income-generating activity; hence she will not pay any taxes. It means only Susan will pay taxes as she is the only one who will be earning. If the tax imposed on dog sitting is $10, then the two ladies will be worse-off by $10.

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3 years ago
How would the law affect the supply for health insurance? Why?
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<u>The law affect the supply for health insurance:</u>

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8 0
2 years ago
Ralph's pretty good grocery has been making an effort to diversify their workforce. new hires are encouraged to learn the organi
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3 years ago
The average propensity to consume is the: ratio of consumption to income. amount consumed out of an additional dollar of income.
Arlecino [84]

Answer:

The correct answer is: ratio of consumption to income.

Explanation:

The average propensity to consume is a measure to show the percentage of income that is spent on consumption of goods and services. It is calculated by the ratio of consumption and income.  

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4 0
3 years ago
Godfrey Corporation holds, as a long-term investment available-for-sale securities costing $69,000. At December 31, 2017, the fa
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Answer:

Godfrey Corporation

GOLDFREY CORPORATION

Balance Sheet (Partial)

December 31, 2017

Noncurrent assets:

Investments:

Investment In Stock, at fair value  $64,100

Stockholders' Equity:

Common stock

Retained earnings

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Explanation:

a) Data and Calculations:

Long-term investment available for sale:

Cost =               $69,000

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