Answer:
A. That's the point where total revenue is maximized
Explanation:
Demand Curve is a downward sloping curve representing inverse relationship between price & quantity demanded.
Elasticity of Demand is the responsiveness of quantity demanded to price change. It can be measured geometrically on a demand curve point by :
Demand curve segment below the point / Demand curve segment above the point.
This way the elasticity keeps on decreasing as we move downwards on the demand curve [Ed=∞ to Ed >1 to Ed = 1 to Ed < 1 to Ed = 0] i.e [from perfectly elastic to elastic to unitary elastic to inelastic to perfectly inelastic demand].
If Demand is Elastic [Ed >1] : There is negative relationship between price and Total Revenue. This point is on the upper segment of demand curve as per geometric method, P- TR negative relationship implies that TR can be increased by decreasing Price.
If Demand is Inelastic [Ed <1] : There is positive relationship between price &total revenue. This point is on the lower segment of demand curve as per geometric method, P-TR positive relationship implies that TR can be increased by increasing price.
So: The best Total Revenue Maximising point is on the middle of demand curve where demand is unitary elastic [Ed=1] - as any other deviation from this point would create an incentive to change price to generate higher revenue.
Answer:
The correct answer is dominating.
Explanation:
Generally, different definitions of "social conflict" are offered, differences that call our attention to complementary aspects of the concept: For example, Stephen Robbins: "A process that begins when one party perceives that another has affected it negatively or that It is about to negatively affect some of its interests ”2 and that of Lewis A. Sew for whom the social conflict is a struggle for values and for the status, power and scarce resources, in the course of which opponents want to neutralize, damage or eliminate their rivals. A conflict will be social when it transcends the individual and comes from the structure of society itself.
Answer:
-$850
Explanation:
The computation of the net income or loss using the cash method is shown below:
= Received cash from customers - accrued salary expense - paid electricity bill
= $1,870 - $2,590 - $130
= -$850
As we can see that the total of expenses is more than the revenue generated so it would be the net loss and the same is to be shown in a negative sign
Hence, the net loss is of -$850
Answer:
B. falls; positive economic; incur economic losses
Explanation: A perfectly Competitive industry is a collection of firms who are producing similar products,these firms are known as price takers as the pressure from the market forces and other impacts that causes an change in price will affect them easily as they will have to take the price even when it is not favourable to their business, this is done in order to remain competitive and relevant in the market.
