« previous next »

Author Question: Unit elastic demand occurs when a. a one-unit increase in price leads to a one-unit decrease in ... (Read 99 times)

cool

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Unit elastic demand occurs when
 a. a one-unit increase in price leads to a one-unit decrease in quantity demanded
  b. a 1 increase in price leads to a one-unit decrease in quantity demanded
  c. price elasticity of demand is positive
  d. price elasticity of demand is exactly zero
  e. price elasticity of demand is exactly -1

Question 2

Demand is elastic whenever
 a. price elasticity has an absolute value of 1
  b. price elasticity has an absolute value greater than 1
  c. price elasticity has an absolute value less than 1
  d. price elasticity is negative
  e. consumers respond to a change in price


alexisweber49

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
A hyfrecator, an electrocautery unit. A hyfrecator, an electrocautery unit.
This unit is applying smoke to the fuel tank through an adapter and the leak was easily found to be ... This unit is applying smoke to the fuel tank through an adapter and the leak was easily found to be ...
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library