This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the demand curve is unit elastic, this implies that: a. consumers do not react to a change in ... (Read 108 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
If the demand curve is unit elastic, this implies that:
 a. consumers do not react to a change in product price.
  b. the good can only be purchased in units of 1.
  c. this good has no good substitutes.
  d. the good is a basic food staple.
  e. the percentage change in the quantity demanded = the percentage change in product price.

Question 2

If the demand curve over a certain range is price elastic, this implies that the:
 a. percentage change in the quantity demanded exceeds one.
  b. percentage change in the quantity demanded exceeds the percentage change in product price.
  c. percentage change in price exceeds the percentage change in quantity demanded.
  d. product is non-reactive.
  e. product has no good substitute.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Leostella20

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
Wow, this really help

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Cumulative change for six personality-trait domains across the life course show distinct patterns. Cumulative change for six personality-trait domains across the life course show distinct patterns.
A functional renal unit. A functional renal unit.
Population Growth and Change Population Growth and Change
Tree rings as indicators of environmental change Tree rings as indicators of environmental change
Land use change and forestry are responsible for 18% of global greenhouse gas emissions Land use change and forestry are responsible for 18% of global greenhouse gas emissions
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library