An increase in demand will:
a. reduce total revenue
b. increase total revenue.
c. increase total revenue only if supply is inelastic.
d. increase total revenue only if supply is inelastic.
b
Economics
You might also like to view...
In the table above, country B is producing 4 units of X and 6 units of Y. For country B, the opportunity cost of producing an additional unit of X is
A) 4 units of Y per unit of X. B) 2 units of Y per unit of X. C) 3/2 units of Y per unit of X. D) 1 unit of Y per unit of X.
Economics
Suppose the exchange rate for the U.S. dollar rises. This could be caused by
A) an increase in U.S. import demand. B) a decrease in the world demand for U.S. exports. C) a fall in the expected future exchange rate. D) an increase in the U.S. interest rate differential.
Economics