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Author Question: A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We ... (Read 70 times)

NClaborn

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on: Jun 30, 2018
A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We can conclude that the demand for housing is:
 a. inelastic.
  b. elastic.
  c. unitary elastic.
  d. perfectly elastic.

Question 2

You are on a campus committee which sets the ticket prices for basketball games. The committee wants to increase the total money generated from ticket sales. When should the committee choose to lower its ticket prices?
 a. Always.
  b. Never.
  c. When demand for basketball tickets is elastic.
  d. When demand for basketball tickets is inelastic.


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jamesnevil303

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


NClaborn

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

amandalm

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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