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Author Question: A doubling of the price of gasoline in the 1970s did not reduce consumption one iota. The person ... (Read 39 times)

Evvie72

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on: Jun 29, 2018
A doubling of the price of gasoline in the 1970s did not reduce consumption one iota. The person making the above claim evidently thinks the demand for gasoline is
 
  A) completely elastic.
  B) completely inelastic.
  C) greater than the supply.
  D) less than the supply.
  E) unit elastic.

Question 2

If the price of chicken falls, then in the market for beef
 
  A) the demand curve for beef shifts rightward.
  B) the demand curve for beef shifts leftward.
  C) there is a movement downward along the demand curve for beef.
  D) there is a movement upward along the demand curve for beef.


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taylorsonier

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Evvie72

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ryansturges

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Reply 3 on: Yesterday
Excellent

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