What happens to total revenue if price increases and demand is inelastic?

Q: Online the timing and tailoring of prices to specific models of products is the key to successful…

A: Since there are multiple questions, I am providing the answer to the first question. Price…

Q: Which of the following is a reason for the downward slope of the AD curve?     the wealth effect…

A: Aggregate demand has a downward slope, showing negative relationship between price and output…

Q: The notion that with accumulation of various forms of capital poor countries can grow faster than…

A: A country is said to have a comparative advantage in a good, if it can produce the good at a lower…

Q: 1. The economies of Canada and Mexico produce only fruit and timber. Each country has a labor force…

A: A country has a comparative advantage in the good which it can produce at lower opportunity cost.

Q: 5. Production Function Question: Why don't we care about production-maximization in the context of…

A: Below are the solutions to questions 5, 6, and 7.

Q: Which of the following accurately describes the phenomenon of crowding out?     government…

A: Aggregate demand shows a negative relationship between price level and real GDP. The components of…

Q: Pick ALL assumptions that need to be held to ensure a perfecly elastic long-run supply curve for…

A: In perfect competitive markets, firms in long run make zero economic profits. For firms that face…

Q: When income rises by 10%, the demand for Good A falls by 3%. From the above, we know Good A is O a…

A: Income is referred as a non price determinant that affect the demand for the good.

Q: How might international trade impact the labor demand curve and wages.   Question 10 options:…

A: The international trade impacts the labor demand curve and wages in a manner explained below:

Q: As the MPC rises, the multiplier     falls     does not change     increases     falls by .05…

A: MPC is the marginal propensity to consume which is the percentage change in income spent on…

Q: Q.3.3 Explain the steps of the motivation process and how it applied to John.

A: Motivation: It is a process where people behave in a way that helps the business to achieve its…

Q: Economic laws studied in this unit tell us that as the price of some good rises O we shift its…

A: Economic laws states how price and quantity demanded are related and how price and quantity supplied…

Q: 4. Consider the market for apples where demand is given by: Qd = 70-p and supply is given by: Qs =…

A: A dead weight loss is a cost to society created by market inefficiency, which occurs when supply and…

Q: Pearl Ltd. intends to manufacture and market mechanical weighing scales. Their research department…

A: Given information; x = 6200 - 50p C = 7400 + 70x Where x is the number of scales that can be sold at…

Q: 1. The aggregate supply (AS) - aggregate demand (AD) model can be used to analyze short run economic…

A: In economics, understanding the differentiation between the short run and the long run is critical.…

Q: When capital increases by ΔK units and labor increases by ΔL units, and there is no TFP growth,…

A: Capital is regularly money or liquid assets being held or gotten for consumptions.

Q: According to the Phillips curve, the inflation rate depends on all of these EXCEPT: a. previously…

A: Phillips Curve shows the inverse relationship between inflation and unemployment rate given by A.W.…

Q: A machine was purchased at an original cost of P3,250,114 with a salvage value of P386,985. The…

A: The depreciation rate per unit using the service output method of depreciation is calculated as…

Q: Suppose that a perfectly competitive industry consists of 240 firms and fixed cost of an individual…

A: The competitive market consists of many buyers and sellers. All sellers have identical product.…

Q: Let's say that researchers find that using suntan lotion has even greater benefits (protecting skin,…

A: Demand curve shows a negative relationship between price and quantity demanded. It shows quantity…

Q: What is one explanation for why this labor supply curve is upward sloping? O Firms are willing to…

A: The measure that depicts various quantities of labor being supplied at different price levels is…

Q: In dynamic pricing environment where prices change regularly the decision to open or close different…

A: Dynamic pricing:- Other names for dynamic pricing include price increase and time-based costing. By…

Q: What is the effect of a rise in the income tax on interest income? A rise in the income tax on…

A: Interest income is the sum you procure from various monetary items, records and speculations. It…

Q: Potatoes are farmed using labor and machinery (farm equipment). They're often eaten with butter or…

A: Inferior goods are those goods which have inverse relationship with income and demand .  but demand…

Q: The City of Zamboanga contemplates to increase the capacity of the existing water transmission…

A: Given information Plan A Initial cost of pipeline=P2,750,875 Salvage value = P285,874  Annual…

Q: The demand for coal lumps is given by the following: p=180-0.25*Q. The private marginal cost of coal…

A: Deadweight loss is a loss to society which is created by market inefficiency and due to this market…

Q: When the money market is drawn with the value of money on the vertical axis, an increase in the…

A: The money market is a financial market where institutions and dealers can trade open-ended funds and…

Q: Sammy runs a specialty running store. Last year, he earned $50,000 in revenue and had explicit costs…

A: An implicit cost in economics is the opportunity cost that a company must pay in order to employ a…

Q: Mustapha maintains a monopoly in the holographic TV market because of its patent, but it is about to…

A: The monopoly refers to the market where only single seller exists in the market.  The profit is…

Q: Choose the correct statement: Select one: a.There is a negative relationship between the price level…

A: The measure that depicts quantities of goods and services demanded at various levels of price is…

Q: L Moving to another question will save this response. Question 10 Price Level P3 P2 P₁ Y₁ LRAS Y₂ an…

A: Leftward shift in SRAS shows decrease in short run aggregate supply.

Q: Firms that benefit from economies of scale: a. Performs more efficiently when output is small.…

A: Economies of scale refers to the situation where the average cost of production declines over the…

Q: 6. Two firms, Firm 1 and Firm 2 and are engaged in Cournot competition. The inverse demand they are…

A:

Q: magine that the United States produces only three goods: apples, bananas, and carrots. The…

A: GDP is production of the goods and services during an accounting year. Real GDP makes adjustments…

Q: A) Consider the Taylor rule: rt = (s1)[rt−1] + (s2)[rn + ayY˜+ aπ(πt πT )]. Assume target inflation…

A: According to the Taylor Rule, the Federal Reserve should increase rates when inflation exceeds the…

Q: Show complete solution: The maintenance expense on a machine is expected to be $800 during the…

A: According to present value, a sum of money is worth more now than it will be tomorrow.To put it…

Q: 1

A: We know that In the long run, competitive firms will operate at a level where marginal cost cuts the…

Q: po demand function, compute the elasticity, and graph the elasticity. For what prices is the demand…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you. If…

Q: Question 1 In the US economy, the money supply is controlled by the US Treasury O O Federal Reserve…

A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…

Q: Think of a person who likes having impact on their social networks. To do so, they always follow the…

A: Marginal returns refer to an increase in the total returns.

Q: Plum charges £500 for its smartphone, producing a revenue of £8 million per month. It fears that a…

A: Marginal cost alludes to the increment or abatement in the cost of creating another unit or serving…

Q: Which of the following statements is a challenge to the use of natural gas? a. Fracking has decrease…

A: Natural gas, coal, nuclear are different sources of energy.

Q: Without the use of a graph, explain why the perfectly competitive outcome is consistent with welfare…

A: Perfectly competitive market refers to the market where many sellers and buyers exist in the market.…

Q: $ interest rate is 10%. Euro interest rate is 5%. Spot exchange rate is 2$/euro. Forward exchange…

A: The forward conversion standard is the pace of trade, settled upon now, for an unfamiliar trade…

Q: Which of the following statements is not correct? O A. Technology is the most important driver of…

A: Investment in capital, technical advancement, and the growth of human capital all contribute…

Q: Consider an exchange problem in which 10 units of x and 5 units of y are to be allocated between…

A: Introduction Production in Pareto efficient when it is not possible to reallocate the resources to…

Q: 4. Qd=a-bP = 6-2P ..(1) (2) Qs = c+dP=2 + 4P ........ Qd = Qs = Q Calculate equilibrium price (P)…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: For an econmomy with a MPC of .80 the multiplier will be      5     4     a magnitue of 1 less…

A: Marginal propensity to consume shows how consumption chances as disposable income changes. It is…

Q: Elaborate the "concept of homogeneity and Returns to Scale. Mathematically prove the following…

A: Here, we have the production function:- XL,K=δ0LαKβ To prove the homogeneity of this production…

Q: The exchange rate between U.S. Dollar and Argentinian Peso is $1 = 125 Pesos. Inflation rate in USA…

A: A nation is usually said to have a trade surplus when its exports surpass its imports.A positive…