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Author Question: As the price of good X increases from 5 to 8, quantity demanded falls from 100 to 80. Based upon ... (Read 40 times)

hubes95

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on: Jul 1, 2018
As the price of good X increases from 5 to 8, quantity demanded falls from 100 to 80. Based upon this information we can conclude that the demand for X is
 
  A) elastic.
  B) inelastic.
  C) unit inelastic.
  D) insufficient information for judgment.

Question 2

All points within the production possibilities frontier are
 
  A) unattainable.
  B) efficient.
  C) inefficient.
  D) profitable.


Jsherida

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


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