Question

Will FAB AND MEDAL
If the demand for electricity is perfectly inelastic, an increase in the price of electric power will cause quantity demanded to ___________ and total revenue will _________ for the power company.

increase, decrease
increase, not change
stay the same, increase
decrease, decrease
remain constant, decrease

Answer 1

lol fab I mean fan

Answer 2

Bruh srsly Micro in math? Nice xd ONE SEC lemme read it XD

Answer 3

Inelastic means it's going in opposite directions right? So if one increases then the other decreases.

Answer 4

Inelastic means it's going in opposite directions right? So if one increases then the other decreases.

Answer 5

I thought if it was inelastic then the price goes up ,but demand stays the same.

Answer 6

One sec googling how inelasticisty affects the demand cuvre.

Answer 7

http://www.investopedia.com/terms/e/inelastic.asp
Hope that helps!! Also.

Answer 8

oh ok thx for the help

Answer 9

could you help me with one more thing?

Answer 10

Sure wat is it?

Answer 11

hold on

Answer 12

The demand for emeralds tends to be very elastic. This is because emeralds are more of a _____________. It also means that a 33% off sale on emerald necklaces would bring about _________________ in the total revenue of the emerald necklace supplier.

luxury item, a decrease
necessity, an increase
luxury item, an increase
luxury item, no change
necessity, no change

Answer 13

What answers can you elminiate?

Answer 14

necessity, no change and necessity, an increase

Answer 15

What answers can you elminiate?

Answer 16

anything that says emeralds are a necessity when they are in fact a luxury

Answer 17

Yes so it's either A, C, D

Answer 18

But you can eliminate it between A, C, and D

Answer 19

But you can eliminate it between A, C, and D

Answer 20

luxury item, no change

Answer 21

its elastic so there will be either a decrease or increase

Answer 22

Yup. But think about how 33% sale will help/not help the SUPLLIER

Answer 23

It will help increase? because consumers will impulse buy based off the ideal of a sale?

Answer 24

Wat does Total Revenue stand for? I would love to give you the answer directly but I really don't want to get us in trouble.

Answer 25

Its the gross income

Answer 26

and yeah i know I 've gotten in trouble for just giving answers

Answer 27

Wait is this for Micro or Macro?

Answer 28

micro

Answer 29

ap micro -.-

Answer 30

Okay so how would this affect the Suppliers. (Sorry had to re-help you on this, lost my train off thought)

Answer 31

suppliers would trade supply for money. So the supplies would decrease?

no its fine the ap class i'm convinced is designed to kill high school students

Answer 32

XD Amen! XD
But it's sales discount on the product.

Answer 33

but more consumers buy because they believe they are getting a deal

Answer 34

Warmer.

Answer 35

SO? The answer would be??

Answer 36

so the luxury would increase total revenue but decrease supply, and the demand would increase ?

Answer 37

Yuppppers (That's what I am thinking, it makes sense to me, wbu?)

Answer 38

same
hopefully it works for my teacher

Answer 39

up for another one?

Answer 40

XD Lol you gotta love dem teachers! XD
Sure?

Answer 41

XD Lol you gotta love dem teachers! XD
Sure?

Answer 42

XD Lol you gotta love dem teachers! XD
Sure?

Answer 43

XD Lol you gotta love dem teachers! XD
Sure?

Answer 44

Which of the following items has the most elastic demand, in all likelihood?

Car repair services
Petroleum
Toothpaste
Snowboards
Milk

eliminate Toothpaste, Snowboards, and Milk

Answer 45

wait lies i mis read the question

Answer 46

So no help??

Answer 47

yes help i mis read the question so idk thee answer

Answer 48

if its elastic then there are many substitutes?

Answer 49

i think so?

Answer 50

I think you are right...not sure?

Answer 51

its very confusing

Answer 52

life is very confusing.

Answer 53

hold on i'll look at my book and lessons

Answer 54

its says you just do not need. Therefore, the good or service is a luxury item.
The more substitutes an item has, the more elastic will be the demand.

Answer 55

so eliminate a and b beacuse unless you walking everywhere you need those inelastic goods

Answer 56

I think its milk because there are so many substitutes

Answer 57

Hmmm Car Service has so many substititues as well if you think about it?