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bearhunter [10]
2 years ago
9

what is it called when raising the price of a good will increase the firm's total revenue, decreasing the price will decrease th

e total revenue?
Business
1 answer:
frozen [14]2 years ago
6 0

Answer:

total revenue test: elastic. If demand is elastic, a decrease in price will increase total revenue, and an increase in price will reduce total revenue. total revenue: inelastic.

Explanation:

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The house will most likely go to her Nephew.
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2 years ago
When the insured knows more about their circumstances than the insurer, there is
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When the insured party knows more about his or her circumstances than the insurer, then there is: B. All of these.

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4 0
1 year ago
Mr. Smith put his laptop up for sale. He is aware of the fact that the laptop malfunctions frequently. However, none of the pote
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Answer: The presence of asymmetric information

                                               

Explanation:  In simple words, asymmetric information refers to the situation when one party to a contract have extra information regarding a subject than the other party of the contract.

Asymmetric information creates the potential of misconduct from the leading party as they can easily cheat the other party by concealing that important information.

In the given case, Mr. Smith was aware that his laptop is not working properly but still he sold its to a customer who was not aware of it. Thus, we can conclude that the correct option is C.

5 0
3 years ago
From 1948 to 2003 the United States experienced an average real GDP growth rate of 3.5 percent and Guatemala had an average real
Luda [366]

Answer:

No, we can’t say

Explanation:

In this question, we are asked to decide if we can say that Guatemala’s standard of living grew more than that of the US’ standard of living between the years 1993 and 2003 given the pointers in the question.

We cannot say that this is correct because of the following reasons;

As observed from the question, the US growth rate was calculated between the years 1948-2003, which is indicative of a 55 year span. Now, comparing this with that of Guatemala, we can see that the span here is just 10 years I.e from 1993 to 2003.

Also, we were not provided with the population growth rate in both countries and this makes it difficult to judge which of the two countries have a better growth in terms of standard of living

5 0
2 years ago
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Conducting a(n) __________ of the disaster recovery documentation for accuracy should be a standard practice for the organizatio
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Answer:

Revision/Review

Explanation:

DRP is a key procedure in every company so the documentation must be reviewed usually and updated accordignly.

4 0
3 years ago
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