There is no change in total revenue when the demand curve for a good is:
a. unitary elastic.
b. perfectly inelastic.
c. elastic.
d. inelastic.
e. perfectly elastic.
a
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If the supply curve is perfectly elastic, then an increase in demand will: a. increase both the price and the quantity exchanged
b. increase the price but result in no change in the quantity exchanged. c. increase the quantity exchanged but result in no change in the price. d. decrease the price but not change the quantity exchanged.
Assume a new bank has just opened for business. It has deposits of $1,000,000 and a required reserve ratio of 15 percent. How much can this bank lend, and why?
What will be an ideal response?
If a firm or a nation desires to maximize its output, each productive assignment should be carried out by those persons who
What will be an ideal response?
A worker who loses a job at a call center because business firms switch the call center to another country is an example of:
a. Cyclical unemployment b. Frictional unemployment c. Disguised unemployment d. Structural unemployment