(a) (10 points) Use that data and fill in the Total Revenue and the Elasticity of Demand (using the arc formula) columns in the table below. Round…

b). (7 points) On the following page plot the demand curve for the electricity in Graph 1 and the total revenue curve in Graph 2. (2 points for D curve; 2 points for TR curve; 1 each for the 3 ‘highlights’ for a total of 5 points)

·        Highlight with blue the elastic section of the demand curve and the corresponding section of the total revenue curve.

·        Highlight with red the unitary elastic section of the demand curve and the corresponding section of the total revenue curve.

·        Highlight with green the inelastic section of the demand curve and the corresponding section of the total revenue curve.

Graph 1

Graph 2

c). (8 points) Complete the following summary table: (1 off for each incorrect answer up to 6)

Show more 

Join the Conversation

14 Comments

  1. Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear.
    Grrrr… well I’m not writing all that over again. Anyway, just wanted to say fantastic blog!

  2. Hey would you mind sharing which blog platform you’re using?
    I’m going to start my own blog in the near future but I’m
    having a tough time selecting between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your design and style seems different then most blogs and
    I’m looking for something completely unique.

    P.S Sorry for getting off-topic but I had to ask!

  3. I believe everything posted made a lot of sense. However, think on this, suppose you composed a catchier title?
    I am not suggesting your information isn’t good., but what
    if you added something that grabbed a person’s attention? I mean (a) (10 points) Use that data and fill
    in the Total Revenue and the Elasticity of Demand (using the arc
    formula) columns in the table below. Round… – Fast Research Essays is kinda vanilla.
    You should glance at Yahoo’s front page and see how they create article headlines to grab people to open the
    links. You might add a related video or a related picture or two to
    grab people interested about everything’ve written. Just my opinion, it could
    make your blog a little bit more interesting. cheap flights http://1704milesapart.tumblr.com/ cheap flights

  4. Hi! I know this is somewhat off-topic however I had to ask.
    Does managing a well-established website such as yours require a massive amount work?

    I’m completely new to running a blog but I do write in my diary on a daily basis.
    I’d like to start a blog so I will be able to share my personal experience and thoughts online.
    Please let me know if you have any kind of suggestions or tips for
    new aspiring blog owners. Appreciate it! ps4 games https://tinyurl.com/45xtc52b ps4 games

Leave a comment

Your email address will not be published.