--%>

Determine demand when total revenue and price rose

When raising ticket prices for Brad Paisley concert tickets raises total ticket revenue, in that case the demand for the concert tickets: (i) perfectly price inelastic. (ii) relatively price inelastic. (iii) unitarily price elastic. (iv) relatively price elastic. (v) perfectly price elastic.

How can I solve my Economics problem? Please suggest me the correct answer.

   Related Questions in Microeconomics

  • Q : Define abnormal profit Abnormal profit:

    Abnormal profit: It is the gain earned over and above the normal profit.

  • Q : Formula for primary deficit What is the

    What is the formula for primary deficit? Answer: Primary deficit = fiscal deficit – interest payment.

  • Q : Short run expectations Can someone help

    Can someone help me in finding out the right answer from the given options. When Toyota expected the price at which it could sell its cars to increase in the near future, it’s very short-run response would possibly be to: (i) Raise its supply. (ii) Reduce its su

  • Q : Definition of Corporate bonds I have a

    I have a problem in economics on Definition of Corporate bonds. Please help me in the following question. The corporate bonds are on an average, _____ than stocks to the investor and _____ then stocks to the issuing corporation. (1) Riskier; less of a risk (2) Riskier

  • Q : Supply curve for perishable goods The

    The supply curve for perishable goods which, once produced, can’t be stored in inventory is generally functioned as perfectly price inelastic into the: (i) short-run. (ii) intermediate period. (iii) long-run. (iv) market period. (v) fiscal year

  • Q : LEAST elastic demand of prevailing wages

    At prevailing wages the LEAST elastic demand for labor is probably faced by: (1) unskilled harvest workers. (2) garment workers. (3) assembly line workers. (4) dentists. Please choose the right answer from above...

  • Q : Profit margins Examine within your

    Examine within your answer the circumstances that will enable a company to pass on cost increases to customers and protect profit margins. For example- price sensitivity of demand, rising food prices, cotton prices, etc.

  • Q : Morphological attribute After the

    After the morula phase what is the subsequent stage? What is the morphological attribute which defines this phase?

  • Q : Purely competitive industry in market

    Within a purely competitive industry: (w) firm faces a perfectly elastic demand for its product. (x) market demand is completely elastic. (y) individual firms set prices for their output. (z) supply curve is based on fixed costs.

    Q : Changing in strategy and behaviour

    Within the kinked demand curve model, when one firm: (1) advertises better quality, its rivals will do nothing. (2) raises its price, its rivals will also increase prices. (3) increases its output level, when its rivals will do nothing. (4) lowers its