If a demand curve displays unitary elasticity, an upward shift in the supply curve will:
A. raise total revenue.
B. lower total revenue.
C. have no effect on total revenue.
D. have an indeterminant effect on total revenue.
Answer:C
If a demand curve displays unitary elasticity, an upward shift in the supply curve will:
A. raise total revenue. B. lower total revenue. C. have no effect on total revenue. D. have an indeterminant effect on total revenue.