What happens to total revenue associated with a linear demand curve as price falls?
What will be an ideal response?
At first total revenue increases as demand is elastic, then total revenue reaches a maximum where price elasticity is unit elastic and finally total revenue falls as demand is inelastic.
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Answer the following statement(s) true (T) or false (F)
1. Within the process of risk assessment, the description of expected risk, how that risk was assessed, and those areas needing policy decisions is collectively known as exposure assessment. 2. The objective of risk management is to both identify risk and to respond to it. 3. The only level of “acceptable” risk to society is a risk level of zero. 4. De minimis risk identifies the point at which risk is set to zero. 5. According to the textbook application, exposure to radon gas is an example of a voluntary risk.
Deposit insurance is a protection for bank depositors up to a certain amount which is guaranteed by the federal government
Indicate whether the statement is true or false
In the figure above, real income in terms of bags of corn chips is shown by point
A) a. B) b. C) c. D) d.
High gasoline prices give people all of the following incentives EXCEPT
A) to drive less. B) to car pool. C) to buy a hybrid car. D) to take vacations that require driving more miles.