A decrease in supply (shift to the left) will increase total revenue in that market if ?

Related Mcqs:

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

A. income inelastic B. price inelastic C. price elastic D. unit price elastic...

Which of the following would cause a demand curve for a good to be price inelastic ?

A. The good is luxury B. There are a great number of substitutes for the good C. The good is a necessity D. The good is an inferior good...

If the cross-price elasticity between two goods is negative the two goods are likely to be ?

A. substitutes B. complements C. necessities D. luxuries...

in general a flatter demand curve is more likely to be ?

A. price elastic B. none of these answers C. unit price elastic D. price inelastic...

The demand for which of the following is likely to be the most price inelastic ?

A. transportation B. taxi rides C. bus tickets D. airline tickets...