If the demand for a good is elastic, then total revenue
a. increases as price increases.
b. remains constant as quantity demanded increases.
c. increases as price decreases.
d. decreases as quantity demanded increases.
e. decreases as price decreases.
C
Economics
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The market demand curve also is
A) a marginal social cost curve. B) a marginal social benefit curve. C) an opportunity cost curve. D) a consumer surplus curve.
Economics
Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound and bananas cost $1 per pound. The marginal utility is 30 for the last pound of mangos purchased and 10 for the last pound of bananas
To maximize his utility, Robinson should buy A) more mangos and fewer bananas. B) more bananas and fewer mangos. C) the present combination of goods. D) only mangos.
Economics