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Author Question: If the demand for a good is perfectly inelastic, then: a. the value of price elasticity of demand ... (Read 105 times)

oliviahorn72

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on: Jun 30, 2018
If the demand for a good is perfectly inelastic, then:
 a. the value of price elasticity of demand of the good is equal to 1.
  b. the value of price elasticity of demand of the good is equal to -1.
  c. the demand curve of the good is nonexistent.
  d. consumers are very responsive to a change in the price of the good.
  e. quantity demanded does not change when price of the good changes.

Question 2

If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
 a. compartmentalizing
  b. self control
 c. rule of thumb
 d. anchoring


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yasmin

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

e

Answer to Question 2

a


oliviahorn72

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

scottmt

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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