If the demand for a product is price inelastic, a. producers' ...

[anjilletteb]

If the demand for a product is price inelastic,
 a. producers' revenues will increase if supply increases
  b. producers' revenues will increase if supply decreases
  c. a small change in price will cause a large shift in the demand curve
  d. a large change in price will cause a small shift in the demand curve
  e. a small change in price will cause a small shift in the demand curve

Question 2

If the demand for airline tickets to Fort Lauderdale is price elastic,
 a. airline revenue will increase if supply increases
  b. airline revenue will increase if supply decreases
  c. a small change in price will cause a large shift in the demand curve
  d. a large change in price will cause a small shift in the demand curve
  e. a large change in price will cause a large shift in the demand curve

[cascooper22]

Answer to Question 1

B

Answer to Question 2

A

[anjilletteb]

Wow, this really help

[mcarey591]

Thanks for the timely response, appreciate it