--%>
Assignment Help - homework help

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.

   Related Questions in Microeconomics

  • Q : Problem on Market clearing price The

    The Equilibrium in a market needs the attainment of a: (1) Balancing act passed by the Congress. (2) Supply price for each and every possible quantity. (3) Demand quantity for each and every possible price. (4) Market clearing price.

    Q : Price elasticity of demand and

    When the price elasticity of demand for Japanese cars is higher within Europe than into the U.S. and transportation costs are very similar, relative to the price charged in Europe, there the price a discriminating Japanese carmaker wo

    		•
  • Q : Area below supply curve of resource The

    The area below a resource’s price line although above its supply curve is: (w) consumer surplus. (x) monopoly profit. (y) excess value. (z) economic rent. Can anybody suggest me the proper explanation for giv

    		•
  • Q : Problem of asymmetric information

    Provide the solution of this question. The problem of asymmetric information is that: A) neither health care buyers nor providers are well-informed. B) health care providers are well-informed, but buyers are not. C) the outcomes of many complex medical procedures cann

    		•
  • Q : Hike within the minimum legal wage

    Labor market advises that a hike within the minimum legal wage from $5 per hour to $8 per hour will decrease: (1) the crime rate by 3,000. (2) national unemployment rates. (3) employment among unskilled workers by approximately 1,500 positions. (4) th

    		•
  • Q : Reform welfare mess Proposals to reform

    Proposals to reform the “welfare mess” comprises: (w) increasing education levels. (x) increasing job training programs. (y) enforcement of the Equal Pay Act. (z) negative income taxes. How can I solve

    		•
  • Q : Wage Discrimination-Monopsonistic

    Whenever an organization’s wage structure reflects the keenness of individual staff to work, terms which are most applicable comprise: (i) Monopsonistic exploitation & wage discrimination. (ii) Monopolistic exploitation and the separation of possession and c

    		•
  • Q : When are average and outputs prices of

    Average and Outputs prices for CDs and DVDs both rose throughout 1999 to 2000 (before the start of Napster and subsequent file-sharing software), which implying: (1) supply of prerecorded music should have grown. (2) law of demand doesn’t apply

    		•
  • Q : Examples of Human Capital I have a

    I have a problem in economics on Examples of Human Capital. Please help me in the following question. On-the-job training, the college education and leadership skills are all illustrations of (1) Financial capital. (2) Human capital. (3) Economic capi

    		•
  • Q : When is short run profit maximized

    Short-run profit is maximized only while: (w) economic profit > accounting profit. (x) total cost = total revenue. (y) MC = MR (greater than minimum AVC). (z) costs are minimum or revenue is maximum. How can I s

    		•