If the price elasticity of demand for a certain commodity...
If the price elasticity of demand for a certain commodity is less than unity, then
An increase in the price of the commodity will raise the total revenue of the producer
An increase in price leaves the total revenue unchanged
A decrease in price raises the total revenue of the supplier
A decrease in price leaves the total revenue constant
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a form of money? ...
The movement of labour from one grade to an entirely different grade is an example of ...
If commodity X is a by-product of commodity Y, this implies that both commodities are ...
The value of money is determined by the ...
Taxes levied on commodities are ...
Privatization and commercialization of public enterprise in Nigeria is necessitated by ...
Which of the following items is not considered as a transfer payment? ...
In many developing countries, infrastructural problems is acute due to the shortage of ...
The amount of money that a firm recieves from the sales of its output is called ...