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 111 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
Gracias!

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m
Change Women’s Roles Change Women’s Roles
A functional renal unit. A functional renal unit.
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
How to evaluate angles using cosecant, special triangles, and the unit circle (Part 3) How to evaluate angles using cosecant, special triangles, and the unit circle (Part 3)
A solenoid has an area of 41.0 cm2. Find the change in magnetic flux through the solenoid. A solenoid has an area of 41.0 cm2. Find the change in magnetic flux through the solenoid.
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library