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2 years ago

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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Answer:

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3 years ago

A firm's _____ includes its rivals, suppliers, customers, new entrants, substitutes, and complementary products. environmental s

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The answer is: competitive environment

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3 years ago

Martin is offered an investment where for $6000 today, he will receive $6180 in one year. He decides to borrow $6000 from the ba

Effectus [21]

Answer:

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Explanation:

given data

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solution

we consider here maximum interest rate bank needs to offer is = r

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2 years ago

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Answer:

Please see explanation.

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1. and 2.

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3 years ago

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2 years ago