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Ulleksa [173]
3 years ago
12

Which of the following could be the price elasticity of demand for a good for which an increase in price would increase total re

venue?a. 0.3b. 1c. 1.8d. None of the above could be correct
Business
1 answer:
Artemon [7]3 years ago
6 0

Answer:

a. 0.3

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is inelastic if a change in price has little or no effect on quantity demanded.

If price is increased, the quantity demanded doesn't change and total revenue increases.

The coefficient of elasticity for inelastic demand is usually less than one.

Demand is elastic if a small change in price leads to a greater change in quantity demanded. The coefficient of elasticity for elastic demand is usually greater than 1. If price is increased, the quantity demanded falls and total revenue falls.

Demand in unitary elastic if a change in price has the same proportional effect on quantity demanded. The coefficient of elasticity for unitary demand is 1.

I hope my answer helps you

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Answer:

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4 0
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Most good managers enjoy mentoring employees. Most good managers are people- oriented individuals. Assuming these two statements
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3 years ago
A firm may pay efficiency wages in an attempt to a. entice workers to work the night shift rather than the day shift. b. improve
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Answer:

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8 0
2 years ago
In the United States, what does the general level of a family’s income have to do with the amount of cash the family is likely t
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Answer:

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6 0
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GN Corp. and BC Inc. are two competing firms in the same industry. GN Corp.'s tangible assets are valued at $15 billion and its
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