Answer:
remains unchanged as price increases when demand is unit elastic.
Explanation:
Total revenue = price × quantity
Demand is elastic when a small change in price has a greater effect on the quantity demanded.
If price is increased and demand is elastic, quantity demanded would fall more than the increase in price and total revenue falls.
Demand is inelastic if a small change in price has little or no effect on quantity demanded.
If price is increased and demand is inelastic, change in quantity demanded would be less than changes in price. As a result, total revenue would increase.
Demand is unit elastic if a change in price has an equal proportional effect on quantity demanded. The elasticity of demand always sums up to one.
If price is increased and demand is unit elastic, there would be no change in total revenue.
I hope my answer helps you
29,208 I used a tax calculator
Answer:
Yes, In situation of high risk credit will create more problem due to bankruptcy.
Explanation:
I Think if business will buy more credit in times of high risk then business will end up in stage of bankcruptcy because in that situation business will making poor profits and no revenue so it won't be able to pay back debt.
Answer:
Explanation:
Inputs are the factors required for production to take place. They may include labor and raw materials. In economics, inputs are the four factors of production that include land, labor, entrepreneurship, and capital.
The final cost of a product is dependent on the costs of production. The cost of production is an aggregation of the cost of each input used in the production. For a company to stay in operation, it must meet all its production costs. These costs are spread to each unit produced. A high production cost will result in an expensive product. Should the cost of any of the input increase, then the overall cost of the products will rise.
Answer:
D. Riley buys new windshield wipers for her car.
Explanation:
By definition unsought goods are those which are not purchased out of want or desire, but the purchases of which arise due to any of the following circumstances:
- danger - for example a fire extinguishers sought in the incident of a fire
- fear - for example the fear of crashing into another car (in this case)
- unexpected events - for example funeral services sought at the time of death
