Business, 26.09.2019 22:00, kayliejeancost

Which of the following statements is true? total revenue will equal zero when the demand for a product is unit elastic. when a firm lowers its price its total revenue may either increase or decrease. whenever a firm raises its price its total revenue will increase. whenever a firm increases its quantity sold its revenue will increase.

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answered: queenofspades

Total revenue will equal zero when the demand for a product is unit elastic. FALSE

When a firm lowers its price its total revenue may either increase or decrease. TRUE

Whenever a firm raises its price its total revenue will increase. FALSE

Whenever a firm increases its quantity sold its revenue will increase. FALSE

Explanation:

Price elasticity en the demand measures the porcentage of change in the quantity demandend when a price is changed.

When the porcentage of change in the quantity demanded is the same of the porcentage of change in the price we talk of unit elastic. The revenues will keep being the same no matter the change in the price.

When a firm lower the price of a good it can increase the revenues if the product has an elastic demand, it means that the porcentage of change in the quantity demanded is bigger than the porcentage in the change of the price, and if the product has an inelastic demand, the revenues will decrease. Price demand is inelastic when the porcentage of change in the quantity demanded is smaller than the porcentage in the change of the price.

answered: Guest

answer; human resource management.(hrm);

answered: Guest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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Which of the following statements is true? total revenue will equal zero when the demand for a prod...