Question
The supply of a good registers periodic increases. With each increase in the offer, the total receipts of the bidders increase. Indicate the correct statement: a) demand is elastic b) demand is inelastic c) supply is inelastic d) supply has unit elasticity.
291
likes1453 views
Answer to a math question The supply of a good registers periodic increases. With each increase in the offer, the total receipts of the bidders increase. Indicate the correct statement: a) demand is elastic b) demand is inelastic c) supply is inelastic d) supply has unit elasticity.
Cristian
4.7118 Answers
To determine the correct statement, let's analyze the relationship between the increase in supply and the increase in total receipts of the bidders:
If the total receipts of the bidders increase with each increase in supply, it suggests that the demand for the good is responsive to changes in supply. In other words, as the supply of the good increases, the demand also increases, leading to higher total receipts.
Based on this information, the correct statement is: a) demand is elastic.
In an elastic demand, a change in supply leads to a proportionally larger change in quantity demanded, resulting in a greater change in total receipts.
If the total receipts of the bidders increase with each increase in supply, it suggests that the demand for the good is responsive to changes in supply. In other words, as the supply of the good increases, the demand also increases, leading to higher total receipts.
Based on this information, the correct statement is: a) demand is elastic.
In an elastic demand, a change in supply leads to a proportionally larger change in quantity demanded, resulting in a greater change in total receipts.
Frequently asked questions (FAQs)
What are the signs of equality for triangles? Prove that if two angles and the included side of one triangle are congruent to two angles and the included side of another triangle, then the triangles are congruent.
+
Question: What is the maximum value in the domain of the function f(x) = 5cos(x) + 3sin(2x) - 2tan(x), where x is restricted to the interval [0, 2π]?
+
What is the measure of the largest angle in a scalene triangle if the other two angles measure 55 degrees and 70 degrees?
+
New questions in Mathematics