If the demand for bananas is elastic, then an increase in the price of bananas will
a. increase total revenue of banana sellers.
b. decrease total revenue of banana sellers.
c. not change total revenue of banana sellers.
d. There is not enough information to answer this question.
b
You might also like to view...
If a stock's dividend is expected to grow at a constant rate of 4 percent in the future
and it has just paid a dividend of $6.00 per share, and you have an alternative investment of equal risk that will earn a 7 percent rate of return, what would you be willing to pay per share for this stock? A) $6.66 B) $54.55 C) $200.00 D) $208.00
It has been claimed that foreign governments have attempted to influence votes in the U.S. that would promote policies of protectionism within the U.S
On the surface this appears to be totally illogical and counter intuitive, as this would presumably lessen the possibilities of foreigners' exports to the U.S.