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Social Science Clinic => Economics => Topic started by: mrsjacobs44 on May 25, 2020

Title: The price of cough medicine increases by 5% and quantity demanded remains unchanged. The demand for ...
Post by: mrsjacobs44 on May 25, 2020

Question 1

The price of apples falls by 5% and quantity demanded increases by 6%. This means that the demand for apples is
◦ inelastic.
◦ perfectly elastic.
◦ perfectly inelastic.
◦ elastic.

Question 2

The price of cough medicine increases by 5% and quantity demanded remains unchanged. The demand for cough medicine is
◦ perfectly elastic.
◦ unitarily elastic.
◦ income elastic.
◦ perfectly inelastic.

Title: The price of cough medicine increases by 5% and quantity demanded remains unchanged. The demand for ...
Post by: lgoldst9 on May 25, 2020

Answer 1

elastic.

Answer 2

perfectly inelastic.

Title: Re: The price of cough medicine increases by 5% and quantity demanded remains unchanged. The demand
Post by: 123098 on Jun 6, 2021

thx

Title: Re: The price of cough medicine increases by 5% and quantity demanded remains unchanged. The demand
Post by: random.NCTzen23 on Jun 6, 2021

ty