Is it wrong to use the total income test for elasticity

Reference no: EM1339909

Elasticity and Outperforming Command Systems

1) Is it wrong to use the total revenue test for elasticity, when there is a direct relationship between price and total revenue the demand is elastic?

2) Have market systems outperform command systems of economic over the 200 years.

3) The United States is an example of a pure market system of economics without elements of command or tradition.

Reference no: EM1339909

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