An increase in the supply of a good will decrease thetotal revenue producers receive ifa. the demand curve is inelastic.b. the demand curve is elastic.c. the supply curve is inelastic.d. the supply curve is elastic

An increase in the supply of a good will decrease thetotal revenue producers receive ifa. the demand curve is inelastic.b. the demand curve is elastic.c. the supply curve is inelastic.d. the supply curve is elastic

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

An increase in the supply of a good will decrease the
total revenue producers receive if
a. the demand curve is inelastic.
b. the demand curve is elastic.
c. the supply curve is inelastic.
d. the supply curve is elastic

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