There is NO total revenue test for price elasticity of supply because:
A)price and quantity supplied are usually inversely related.
B)price and quantity supplied are usually positively related.
C)total revenue will not usually change in the direction of a supply price change.
D)price and quantity supplied are always negatively related.

Question

Quizplus · Accepted Answer

Price and quantity supplied are usually positively related, meaning that as the price increases, the quantity supplied also increases, and vice versa. This positive relationship is a fundamental principle of supply in economics, contrasting with the concept of price elasticity of demand, where price and quantity demanded are inversely related.

There Is NO Total Revenue Test for Price Elasticity of Supply