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Social Science Clinic => Economics => Topic started by: Shelles on Jun 29, 2018

Title: If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, ...
Post by: Shelles on Jun 29, 2018

If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, then the demand for golf balls is
 
  A) relatively elastic. B) relatively inelastic. C) perfectly elastic. D) unit elastic.

Question 2

A commodity or token is money if it is ________.
 
  A. generally accepted as means of payment
  B. a store of value
  C. used in a barter transaction
  D. completely safe as a store of value

Title: If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, ...
Post by: meltdown117 on Jun 29, 2018

Answer to Question 1

A

Answer to Question 2

A Answer A is the definition of money.