How would a Supreme Court Justice use a strict construction of the U.S. Constitution?

1 answer:

4 0

Strict construction requires a judge to apply the text only as it is written. Once the court has a clear meaning of the text, no further investigation is required. Judges—in this view—should avoid drawing inferences from a statute or constitution and focus only on the text itself.

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<h3>What is an demand?</h3>

An elastic demand or elastic supply is when the elasticity is greater than one, indicating a high responsiveness to changes in price. An inelastic demand or inelastic supply is when the elasticity is less than one, indicating low responsiveness to price changes. With that said:

a. Price of widgets = $8

Total revenue = P*Q = 8*12 = $96

Price = $7

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Fall in price leads to rise in total revenue, it means demand is elastic.

b. Price = $7 maximimes the total revenue. Total revenue when price = $7, total revenue = Price x quantity= $7 x 12 = $112.

c. When price is equal to $9, Demand is elastic. So there should be a decrease in price in order to increase total revenue.

d. Price elasticity of demand = ((96-112)/(112+96)/2)) ÷((8-7)/(8+7)/2)) = -2.14

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e. When price=$6, Quantity=18

When Price=$5, Quantity= 20

Price elasticity of demand = ((20-18)/(20+18)/2)) ÷ ((5-6)/(5+6)/2)) = - 0.58

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f. Total revenue fall from $108 to $100 when price falls from $6 to $5.

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