Good news for an industry that typically produces inelastic goods can

Select one:

a. be good news for individual producers because when these factors shift the supply curve to the right it increases total revenues.

b. be bad news for individual producers because when these factors shift the supply curve to the left it decreases total revenues.

c. be bad news for individual producers because when these factors shift the supply curve to the right it decreases total revenues.

d. be good news for individual producers because when these factors shift the supply curve to the right it increases total profit.

Question

11-12-2019
Business

contestada

Good news for an industry that typically produces inelastic goods can

Select one:

a. be good news for individual producers because when these factors shift the supply curve to the right it increases total revenues.

b. be bad news for individual producers because when these factors shift the supply curve to the left it decreases total revenues.

c. be bad news for individual producers because when these factors shift the supply curve to the right it decreases total revenues.

d. be good news for individual producers because when these factors shift the supply curve to the right it increases total profit.

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ewomazinoade ewomazinoade · Answer 1 · 2019-12-12T16:57:45+01:00

Answer:

c. be bad news for individual producers because when these factors shift the supply curve to the right it decreases total revenues.

Explanation:

A good has an inelastic demand when quantity demanded doesn't change when price change.

When good news in an industry shifts the supply curve to the right, it means that supply has increased. When supply increases, there's an excess of supply over demand and prices fall. If price falls and quantity demanded doesn't change because demand is inelastic, total revenue would fall and this would be bad news for individual producers.

I hope my answer helps you.