Agriculture Econ

What is the relationship between the price elasticity & the total revenue received by produces of a commodity

  1. 0
  2. 3
asked by troy

Respond to this Question

First Name

Your Response

Similar Questions

  1. Economics

    1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? (10) a price increase the correct decision to raise revenue?substantiate your answer using the price elasticity of demand and income
  2. Economics

    Very confused on how to figure these out. Suppose that the following table shows the weekly visits to an amusement park as a function of the daily admission fee charged: #visits daily fee 200 $50 400 $40 600 $30 800 $20 1000 $10
  3. HELP i dont get it

    The producer of X is contemplating a price change and has asked for your advice. After some empirical investigation, you conclude that the price elasticity of demand for X is 0.75. Your advice to the producer is to Increase price
  4. Managerial Economics/Math

    This is an MBA-level Managerial Economics course. I am working on a homework assignment and have a couple problems that I don't really know how to get started. Here is the first: Altmann, Inc. is a U.S. manufacturer of edible
  5. Advanced Microeconomics College Level

    Information on the price elasticity of demand is particularly importatn to managerial decision making because: A) the higher the price elasticity of demand for a product is, the more profitable it will be to produce more of it. B)
  6. Principles of microeconomics

    Thos question comes from Gregory Mankiw Principles of Microeconomics fourth edition. I am not sure how to do this problem. Can you help me please. The government places a tax on the purchase of socks. A. Illustrate the effect of
  7. Managerial Economics

    Consider the Linear demand function Q = 20 - 0.5P c- Using calculus, find the level of output, Qrmax, where total revenue reaches its maximum value. What price Prmx maximizes total revenue? What is the value of TR at this maximum
  8. Economics

    A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue? Continue producing at the current output level, because it maximizes its
  9. Ecconomics

    Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5
  10. economics

    Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket. Other things being equal, the data imply that the elasticity of demand for movie tickets is: A.

More Similar Questions