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gtnhenbr [62]
2 years ago
5

An increase in price causes an increase in total revenue when demand is

Business
1 answer:
nadezda [96]2 years ago
7 0

Answer:

elasticity of demand will be inelastic

Explanation:

Here in the question it is provided in the statement that with an increase in price there is an increase in total revenue

Therefore,

change in price and change in revenue will be positive

Mathematically,

\frac{dR}{dP} > 0

Now,

When,

\frac{dR}{dP} > 0

then,

the elasticity of demand will be Ed will be < 1

which means the elasticity of demand will be inelastic

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You rent a car for $29.95. The first 150 miles are free, but each mile thereafter costs 15 cents. You plan to drive it 200 miles
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Answer:

marginal cost is 15 cents

Explanation:

given data

car rent = $29.95

distance d1 = 150 miles

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to find out

marginal cost

solution

first we find here cost for driving d2

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