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Author Question: Over a particular price range, if the quantity effect of a price decrease is smaller than the price ... (Read 174 times)

Garrulous

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on: Jun 29, 2018
Over a particular price range, if the quantity effect of a price decrease is smaller than the price effect, it implies that:
 
  A) demand is elastic in the price range.
  B) demand is inelastic in the price range.
  C) the demand curve is horizontal in the price range.
  D) the demand curve is upward sloping in the price range.

Question 2

Over a particular price range, if the quantity effect of a price decrease is larger than the price effect, it implies that:
 
  A) demand is inelastic in the price range.
  B) demand is elastic in the price range.
  C) the demand curve is vertical in the price range.
  D) the demand curve is upward sloping in the price range.


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swimkari

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

B

Answer to Question 2

B


Garrulous

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Reply #2 on: Jun 29, 2018
Thank you


swimkari

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Reply #3 on: Jun 29, 2018
No problemo


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