If demand is price elastic, total revenue is
a. directly related to quantity demanded
b. inversely related to quantity demanded
c. directly related to price
d. directly related to price and inversely related to quantity demanded
e. not related to either price or to quantity demanded
A
Economics
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The demand curve, which assumes that competitors will follow price decreases but not price increases, is called
A) an industry demand curve. B) an inelastic demand curve. C) a kinked demand curve. D) a competitive demand curve.
Economics
If children go to school and become productive members of society,
A) a negative externality is created by the schools. B) a positive externality is created by the schools. C) no externality is created by the schools. D) an externality is created that may be positive or negative.
Economics