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14 Mar 2019

Which of the following will lead to a decrease in total revenue?

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Related questions

The following graph shows the daily demand curve for bikes in San Francisco.

Q1ย On the following graph, plot the annual total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per bike.

Q2 According to the midpoint method, the price elasticity of demand between points A and B is approximately......

Q3 Suppose the price of bikes is currently $25 per bike, shown as point B on the initial graph. Because the demand between points A and B is....... , a $25-per-bike increase in price will lead to in total revenue per day.

Q4. In general, in order for a price decrease to cause a decrease in total revenue, demand must be .

ย 

If in the short run the demand for mass transit is inelastic and in the long run the demand is elastic, then a price:

a) decrease will increase total revenue in the short run but decrease total revenue in the long run.

b) decrease will decrease total revenue in the short run and decrease total revenue in the long run.

c) increase will decrease total revenue in the short run but increase total revenue in the long run.

d) increase will increase total revenue in the short run but decrease total revenue in the long run.

38. Suppose that the price elasticity of demand for apples is 0.75. Which of the following is true? (a) An increase in the supply of apples will increase total revenue from apple sales. (b) There is not enough information to conclude whether total revenue will increase or decrease. (c) An increase in the supply of apples will no affect total revenue from apple sales. (d) An increase in the supply of apples will decrease total revenue from apple sales.

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