--%>
Assignment Help - homework help

Illustration of total revenue and elasticity

The Square-Wheeled Locomotive, the last passenger train to Flatland, Iowa, wants more total revenue. When passengers’ demands for tickets are comparatively price elastic, in that case the railroad must: (1) raise the price, but lower this when demand is inelastic. (2) invest more heavily within new tracks and engines. (3) advertise luxury tours into Holiday magazine. (4) lobby Congress for increased subsidies for interstate highways. (5) lower the price.

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Microeconomics

  • Q : State Performance of Funds Performance

    Performance of Funds: The performance of funds mainly depends on how much diversification has been taken up by a portfolio manager and also if the company’s fundamentals have been assessed well and no hasty decision has been made on the basis of

    		•
  • Q : Characteristic of the market system

    Select the right ans wer of the question. Which of the following is not a characteristic of the market system? A) private property. B) freedom of enterprise. C) government ownership of the major industries. D) competition in product and resource markets.

    		•
  • Q : Income sufficient to physical survival

    The view about all people is entitled to income sufficient to comfortably sustain their physical survival is termed as the: (1) survival standard. (2) contribution standard. (3) needs standard. (4) standard deduction. (5) equality standard.

  • Q : Monopsony Power and Demand for Labor

    Subsequent to adjusting for inflation, Alex Rodriquez salary with NY Yankees was much higher in the year 2006 than Henry Aaron's salary with the Atlanta Braves in the year 1970s that implies that: (i) The 2006 Yankees was more liberal than the year 1970s Braves. (ii)

    		•
  • Q : Calculations of price elasticity of

    At a price of $50, the demand for DVD games is roughly: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) relatively inelastic.

    Q : Labor-Leisure Tradeoffs When leisure is

    When leisure is a normal good, in that case the demand for leisure: (1) varies directly with income. (2) has declined sharply from World War II. (3) is positively associated to the average age of the population. (4) shifts leftward as a result of tech

    		•
  • Q : Relative concept about poverty A

    A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro

    		•
  • Q : What is revenue deficit in government

    Revenue deficit in government budget: Whenever the revenue expenses of the government is more than the revenue receipts it is termed as revenue deficit Revenue expenditure > Revenue receipts

  • Q : Loans from financial institutions Can

    Can someone please help me in finding out the accurate answer from the following question. The biggest percentage of the corporate financing comes from: (i) Issuing general stock. (ii) Loans from financial institutions. (iii) Issuing the corporate bonds. (iv) Dividend

    		•
  • Q : Variation of supply of loanable funds

    The supply of loanable funds varies positively along with the: (w) willingness of people to defer consumption into the future. (x) profitability and productivity of new capital investments. (y) price of the output which new capital will produce. (z) f

    		•