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

Author Question: Over a particular price range, if the quantity effect of a price decrease is smaller than the price ... (Read 76 times)

Garrulous

  • Hero Member
  • *****
  • Posts: 686
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Garrulous

  • Hero Member
  • *****
  • Posts: 686
Reply #2 on: Jun 29, 2018
Thank you


swimkari

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Effect of the activation energy barrier. Effect of the activation energy barrier.
The Effect of Group Size on Relationships The Effect of Group Size on Relationships
Insolation and the Greenhouse Effect Insolation and the Greenhouse Effect
Effect of the direction of flagellar rotation Effect of the direction of flagellar rotation
Effect of an Exogenous Shift in Income Effect of an Exogenous Shift in Income
Range for Functions Range for Functions
Video: Cognitive development by Piaget (Preoperational stage or intelligence)

For a complete list of videos, visit our video library