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Elasticity

Technological improvements in agriculture that shift the supply of agricultural commodities to the right tend to ?

Technological improvements in agriculture that shift the supply of agricultural commodities to the right tend to ?

A. increase total revenue to farmers as a whole because the demand for food is elastic
B. increase total revenue to farmers as whole because the demand for food is inelastic
C. reduce total revenue to farmers as a whole because the demand for food is elastic
D. reduce total revenue to farmers as a whole because the demand for food is inelastic

Technological improvements in agriculture that shift the supply of agricultural commodities to the right tend to ? Read More »

Economics Mcqs, Elasticity

If a supply curve for a good is price elastic then ?

If a supply curve for a good is price elastic then ?

A. the quantity supplied is sensitive to changes in the price of that good
B. That quantity demanded is insensitive to changes in the price of that good
C. the quantity demanded is sensitive to changes in the price of that good
D. the quantity supplied is incentive to changes in the price of that good
E. None of these

If a supply curve for a good is price elastic then ? Read More »

Economics Mcqs, Elasticity

The price elasticity of demand is defined as ?

The price elasticity of demand is defined as ?

A. the percentage change in the quantity demanded divided by the percentage change in income.
B. the percentage change in income divided by the percentage change in the quantity demanded
C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
D. none of these answers

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Economics Mcqs, Elasticity

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?

A. Rs 0 per month
B. Rs 30 per month
C. Rs 40 per month
D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ? Read More »

Economics Mcqs, Elasticity