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
Answer: Both the State and local governments
Explanation: The State and Local Governments prepare both entity wide and fund financial statements.
The entity wide and fund financial statements consist of the statement of net assets and Statement of activities. That is its information is based on the funds the Government has and what the funds are used for.
This is different from the private organisations financial statement as they present every thing necessary about the organisation which includes statement of profit and Loss and Balance sheet.
The State and Local Government do not prepare Profit or loss account as the government funds generally have a short-term perspective.
Answer:
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The answer would be false.
