Price elasticity when total revenue grows

Total revenue grows while the price of a good is cut when the price elasticity of: (w) demand exceeds the price elasticity of supply. (x) substitute goods is less than one. (y) supply is into a relatively elastic range. (z) demand is greater than one but less than infinity.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Statement of Craft unions I have a

I have a problem in economics on Definition of Craft unions. Please help me in the following question. The Craft unions systematize all the workers: (i) In a specific firm or industry, in spite of skill or craft. (ii) In a specific craft, even when th

Q : Lowering prices raises total revenue

Lowering prices will raise total revenue from DVD game sales at all prices as: (w) on this demand curve. (x) below $25. (y) above $25. (z) below $30.

Q : Saving and the Supply of Loanable Funds

The principal eventual lenders/savers within financial markets are: (w) business firms. (x) the government. (y) households. (z) foreign investors. I need a good answer on the topic of Economics pro

Q : Process of channeling funds from savers

Financial intermediation is, largely, the process of: (1) lending money out at interest. (2) spending funds faster than revenues are obtained. (3) channeling funds from savers to dissavers, as well as to investors into economic capital. (4) buying and

Q : Zero elasticity for demand curves When

When any truly existed, then perfectly inelastic demand curves would include: (i) price elasticities of infinity and be horizontal. (ii) zero elasticity and be horizontal. (iii) a slope of one. (iv) price elasticities of infinity and would be vertical

Q : Neoclassical and heterodox One of my

One of my friends can't succeed to get the answer of this question. Provide answer of this question. Economists of neoclassical argue that goods contain just subjective (or personal) use-value dimension; heterodox economists argue that goods contain use-value and soci

Q : Price consistent with profit-maximizing

HoloIMAGine has patented a holographic technology which creates 3-D photography obtainable to consumers. So the price consistent along with HoloIMAGine's profit-maximizing output would be of: (1) price P1. (2) price P2. (3) price

Q : Quantity demanded and goods price The

The law of demand defines that there is a negative relationship among: (1) A good’s price and quantity demanded. (2) Limitless demands and inadequate resources. (3) The quantities demanded and supplied. (4) People’s income and demands for

Q : Thorstein Veblen-Biography Thorstein

Thorstein Veblen is most particularly remembered for arguing that: (i) Consumer surplus is maximized by setting the marginal utility equivalent to price. (ii) National income [or NI] equivalents gross domestic product [or GDP] in circular flow model.

Q : Problem regarding to demography of

Onto average, African-Americans into the U.S., when compared to whites: (1) earn lower incomes. (2) have less education. (3) experience higher rates of unemployment. (4) are less likely to be capable to retire on Social Security. (5) All of the above.

Discover Q & A

Leading Solution Library

Avail More Than 1418804 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1937505
Asked

3,689

Active Tutors

1418804

Questions
Answered

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

Submit Assignment