Author Question: If the quantity demanded changes by a relatively small amount for a given change in price, then ... (Read 37 times)

jeatrice · **on:** Jun 29, 2018

If the quantity demanded changes by a relatively small amount for a given change in price, then demand is

A) perfectly inelastic.
B) perfectly elastic.
C) elastic.
D) inelastic.

Question 2

In the figure above, suppose the economy is initially at point B. If people come to believe that the exchange rate will fall in the future, the supply of dollars ________ and the market moves to point such as ________.

A) decreases; A
B) decreases; E
C) increases; D
D) increases; C