At the quantity for elasticity for which elasticity = -`.25, what can you say about the TR curve?

TR is upward sloping

TR is at its minimum

TR is downward sloping

TR is at its peak

You can't tell anything about TR without knowing the equation of the demand curve.

answer

watching

views

For unlimited access to Homework Help, a Homework+ subscription is required.

You have 0 free answers left.
Get unlimited access to 3.8 million step-by-step answers.

Get unlimited access

Already have an account? Log in

smartactLv1

2 Jun 2021

Unlock all answers

Get 1 free homework help answer.

Already have an account? Log in

Related questions

Which of the following statements about price elasticity of demand is false?

a) The value of price elasticity of demand is the reciprocal of the value of the demand curve's slope

b) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic

c) The value of price elasticity of demand along a downward sloping demand curve is always negative

d) A linear downward sloping demand curve has a varying price elasticity coefficient

crimsonreindeer712

Which of the following statements about price elasticity of demand is false?
A) The value of the price elasticity of demand is the reciprocal of the value of the demand curve's slope.
B) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic.
C) The value of the price elasticity of demand along a downward-sloping demand curve is always negative.
D) The elasticity is different on every point of a linear downward-sloping demand.

crimsonreindeer712

Consider the various short-run cost curves.

(a) why is the total variable cost curve TVC shaped the way it is? In explaining, go back to the most basic assumptions about what happens when a firm produces output in the short run.

(b) When marginal cost MC is at its minimum value, what can we say about the nature of the marginal product of labor (MPL) curve(I.E., is it upward sloping or downward-sloping)? What is the logical basis for your conclusion?

(c) When average variable cost AVC is at its minimum value, what can we say about the nature of the marginal product of labor (MPL) curve (I.E., is it upward sloping or downward-sloping)? What is the logical basis for your conclusion?

(d) Suppose that, for a particular type of firm, the MPL is not diminishing, but it's also not increasing. What does the MCcurvefor this firm look like? Why might it make sense to think of the firm's capital being, say, a computer network, that multiple workers can use at the same time without slowing down the network?