Maximum total revenue for elasticity of demand

The elasticity of demand equals one and consumer spending upon Robot Butlers (there is the firm’s total revenue), is at a maximum at a price of as: (1) $20,000. (2) $15,000. (3) $10,000. (4) $5,000. (5) zero.

552_Price Elasticity of Demand3.png

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

View Complete Question

Related Questions in Microeconomics

Q : Perfectly inelastic demand problem When

When will an augment in supply entail a raise in price however no change in quantity?

Q : Selling of physically indistinguishable

While physically indistinguishable units of a good are concurrently sold at various prices at various locations, such price differentials reflect: (1) differences within marketing and advertising costs. (2) rational ignorance by consumers. (3) differe

Q : Unstable Cartel Agreement Cartel

Cartel agreements tend to be unstable since: (1) outputs are homogenous. (2) cooperation replaces competition. (3) all governments oppose cartels. (4) members have incentives to cheat. (5) All of the above. Hello g

Q : Demand and supply influences

Changes in both demand and supply of a commodity might or might not influence its equilibrium price. Describe.

Q : Moderately increasing costs When this

When this purely competitive industry is described by moderately increasing costs, in that case line C would represent: (w) the demand curve facing the entire industry as a whole. (x) market-period supply. (y) long-run market supply. (z) short-run sup

Q : Characteristics of oligopoly in market

An oligopoly is a form of market structure described by: (w) its large number of sellers. (x) firms' capability to easily enter and exit the industry. (y) conscious interdependence. (z) price taker behavior.

Q : Difference between voluntary and

Difference between voluntary and involuntry employment: Voluntary unemployment is that portion of working force not willing to engage itself is a gainful occupation. An Involuntary unemployment is that portion of labour force that is willing and capab

Q : Blacklisting-Labor history Can someone

Can someone please help me in finding out the accurate answer from the following question. Firms which colluded by circulating the names of the union organizers and hence they would have difficulty getting jobs were engaged in a now-illegal practice termed as: (1) Fea

Q : Numerical question regarding demand At

At $1.50 per gallon, Alana purchases 50 gallons of gasoline weekly, Bart purchases 20 gallons weekly, and Caitlin purchases 20 gallons weekly. One point on their joint demand curve for gasoline would be Q =: (1) 90 gallons per week, P = $1.50. (2) 90 gallons per week,

Q : Greatest total revenue at price In the

In the demonstrated figure, total revenue is greatest for cheesy fried grits of Pixie at a price of as: (w) P1. (x) P2. (y) P3. (z) P4.

Discover Q & A

Leading Solution Library

Avail More Than 1426049 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1927359
Asked

3,689

Active Tutors

1426049

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment