If an Increase in the Price of a Good Results

question 63

Multiple Choice

If an increase in the price of a good results in an increase in total revenue for the firm, then:

• A)the supply of the good must be unit elastic
• B)the supply of the good must be inelastic
• C)the supply of the good must be elastic
• D)nothing can be said about price elasticity of supply from the information given

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Definitions:

Self-incompatibility

A mechanism in some plants that prevents self-fertilization and promotes genetic diversity by rejecting pollen from the same or genetically similar plant.

Pollen Tube

A tube that forms from a pollen grain and grows toward the ovule to enable sperm to pass directly to an egg for fertilization in plants.

Diploid

An organism or cell that contains two complete sets of chromosomes, one from each parent.

Sporophyte Generation

One of the two alternating phases in the life cycles of plants and algae, characterized by a multicellular diploid phase that produces spores.