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

Author Question: Demand is inelastic if a. the percentage change in price is greater than the percentage change in ... (Read 52 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Demand is inelastic if
 a. the percentage change in price is greater than the percentage change in quantity demanded
  b. the percentage change in price is less than the percentage change in quantity demanded
  c. the percentage change in price is equal to the percentage change in quantity demanded
  d. the value of price elasticity is equal to -1
  e. the value of price elasticity is less than -1 (e.g., -3)

Question 2

Demand is inelastic only if
 a. price elasticity has an absolute value of 1
  b. price elasticity has an absolute value greater than 1
  c. price elasticity has an absolute value less than 1
  d. price elasticity is negative
  e. consumers do not respond to a change in price


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rekilledagain

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jul 1, 2018
Excellent

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Free energy change during electron transport Free energy change during electron transport
Alan Price - Poor People Alan Price - Poor People
The Whole Is Greater than the Sum of its Parts The Whole Is Greater than the Sum of its Parts
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Lactation and Breast Feeding

For a complete list of videos, visit our video library