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18 Feb 2018
S 11) Suppose there is an increase in the cost of resources used in the production of good A. Then u total revenue must fall because the quantity bought and sold of A must fall. Bi total revenue will increase because the price of A must rise i f the total revenue from sales of A falls, we know the demand for A is elastic D) if the total revenue from sales of A rises, we know the demand for A is elastic. E) if the price of A rises, we know the demand for A is elastic.
S 11) Suppose there is an increase in the cost of resources used in the production of good A. Then u total revenue must fall because the quantity bought and sold of A must fall. Bi total revenue will increase because the price of A must rise i f the total revenue from sales of A falls, we know the demand for A is elastic D) if the total revenue from sales of A rises, we know the demand for A is elastic. E) if the price of A rises, we know the demand for A is elastic.
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