Why Is There No Total Revenue Test for Elasticity of Supply

question 395

Essay

Why is there no total revenue test for elasticity of supply?

---

Definitions:

Social Cognition

Research on the processes through which humans process, save, and employ insights about other persons and social environments.

Evolutionary Perspective

An approach in various disciplines that considers the evolutionary backdrop of behaviors, structures, and processes.

Cultural Knowledge

an understanding of the customs, beliefs, and practices of different societies and communities.

Germ Theory

The scientific theory that microorganisms are the cause of many diseases, fundamentally changing our understanding of infection and hygiene.