Mathematics 1 Deneme Sınavı Sorusu #1224913

If demand is elastic, which of the followings is correct?

|E_p|<1, revenue R increases as price p increases.

|E_p|>1, revenue R(p)=p q(p) decreases as price p increases.

|E_p|<1, revenue R decreases as price p increases.

|E_p|>1, revenue R(p)=p q(p) increases as price p increases.

|E_p|=1, revenue is unaffected by a small change in price.

Yanıt Açıklaması:

If demand is elastic, i.e. |E_p|>1, revenue R(p)=p q(p) decreases as price p increases.
If demand is inelastic, i.e. |E_p|<1, revenue R increases as price p increases.
If demand is of unit elasticity, i.e. |E_p|=1, revenue is unaffected by a small change in
price.

PAYLAŞ:

SORUNUN CEVABI: B

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