• 2022-06-04
    An increase in price causes an increase in total revenue when: ()
    A: demand
    is elastic.
    B: demand
    is inelastic.
    C: demand
    is unit elastic.
    D: All
    of the above are possible.
  • B

    内容

    • 0

      Since<br/>the amount of land is fixed, the total supply of land<br/>is_____________ A: relatively<br/>elastic. B: perfectly<br/>elastic. C: perfectly<br/>inelastic. D: relatively<br/>inelastic.

    • 1

      To maximize profit, the monopolist produces on the ________ portion of the demand curve where ________. A: elastic; price equals marginal cost B: elastic; marginal revenue equals marginal cost C: inelastic; price equals marginal revenue D: inelastic; marginal revenue equals marginal cost

    • 2

      If the demand for orange juice is elastic, then as the price falls, quantity demanded for orange juice will ________ and total revenue for orange suppliers will ________.

    • 3

      If corn farmers know that the demand for corn is inelastic, and they<br/>want to increase their total revenue, they should all: () A: plant<br/>more corn so that they would be able to sell more each year. B: increase<br/>spending on fertilizer in an attempt to produce more corn on the<br/>acres they farm. C: reduce<br/>the number of acres they plant in corn. D: contribute<br/>to a fund that promotes technological advances in corn production.

    • 4

      When<br/>taxes increase, consumption () A: decreases<br/>as shown by a movement to the left along a given aggregate demand<br/>curve. B: decreases<br/>as shown by shifting aggregate demand to the left. C: increases<br/>as shown by shifting aggregate supply the left. D: None<br/>of the above is correct.