Essays Tagged: "Total revenue test"
Notes for a freshmen college microeconomics course.
ld.E. Extreme ElasticitiesPerfectly Elastic Perfectly InelasticDemand or Supply Demand or SupplyII. Total Revenue TestIf Demand is Elastic If Demand is InelasticP TR P TRP TR P TRIII. What Determines ... save jobs ifthe product is income-sensitive/ elastic)B. Bumper crop in agriculture (will reduce the totalrevenue of farmers, since products are inelastic.)C. Automation (if the product is elastic, wor ...
Subjects: Social Science Essays > Economics