Question If the demand for bananas is elastic, what impact will an increase in the price of bananas have on total revenue? increase, decrease or no change ….. I actually think I need more information to answer the question about bananas and that is a choice. If two goods substitutes for each other, would the cross price elasticity be negative?
Question
If the demand for bananas is elastic, what impact will an increase in the price of bananas have on total
revenue?
increase, decrease or no change ….. I actually think I need more information to answer the question about bananas and that is a choice.
If two goods substitutes for each other, would the cross price elasticity be negative?
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