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

Author Question: If the demand curve is unit elastic, this implies that: a. consumers do not react to a change in ... (Read 115 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
If the demand curve is unit elastic, this implies that:
 a. consumers do not react to a change in product price.
  b. the good can only be purchased in units of 1.
  c. this good has no good substitutes.
  d. the good is a basic food staple.
  e. the percentage change in the quantity demanded = the percentage change in product price.

Question 2

If the demand curve over a certain range is price elastic, this implies that the:
 a. percentage change in the quantity demanded exceeds one.
  b. percentage change in the quantity demanded exceeds the percentage change in product price.
  c. percentage change in price exceeds the percentage change in quantity demanded.
  d. product is non-reactive.
  e. product has no good substitute.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Leostella20

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
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.
Answer Preview
Only 56% of students answer this correctly


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

The basic unit of life - cell The basic unit of life - cell
Change Women’s Roles Change Women’s Roles
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Change is hard at first messy in the middle and gorgeous at the end Change is hard at first messy in the middle and gorgeous at the end
If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ... If P(x,- 3/7) on the unit circle,x can be written as ± r sqrt s / t , r is ≠ 1. The value of ...
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Methods that regulate pH

For a complete list of videos, visit our video library