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Author Question: If the total expenditure on perfume increases when the price of perfume falls, the price elasticity ... (Read 115 times)

rissygurl1124

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on: Oct 12, 2022

Question 1

If household income increases by 50% and desired household expenditure on vacation travel increases by 15%, the price elasticity of demand for vacation travel is
◦ elastic.
◦ positive.
◦ inelastic.
◦ unity.
◦ not determinable from the information given.

Question 2

If the total expenditure on perfume increases when the price of perfume falls, the price elasticity of demand is
◦ greater than one (demand is elastic).
◦ unity (demand is unit elastic).
◦ less than one (demand is inelastic).
◦ exactly zero.
◦ not determinable from the information given.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by rissygurl1124 on Oct 12, 2022

char00char

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rissygurl1124

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

xiazhe

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

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