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

Author Question: Demand is inelastic if a. the percentage change in price is greater than the percentage change in ... (Read 98 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Demand is inelastic if
 a. the percentage change in price is greater than the percentage change in quantity demanded
  b. the percentage change in price is less than the percentage change in quantity demanded
  c. the percentage change in price is equal to the percentage change in quantity demanded
  d. the value of price elasticity is equal to -1
  e. the value of price elasticity is less than -1 (e.g., -3)

Question 2

Demand is inelastic only if
 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 do not respond to a change in price


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rekilledagain

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jul 1, 2018
Gracias!

DylanD1323

  • Member
  • Posts: 314
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

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
Middle age brings greater career satisfaction than young adulthood, sometimes through major job ... Middle age brings greater career satisfaction than young adulthood, sometimes through major job ...
Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ... Graph showing how the boiling point of the coolant increases as the percentage of antifreeze in ...
Natural Causes of Climate Change Natural Causes of Climate Change
Climate Change: Volcanoes Climate Change: Volcanoes
The change in the net of an irradiance, in Wm-2, at the tropopause The change in the net of an irradiance, in Wm-2, at the tropopause
Video: Endocytosis -Types and Phagocytosis

For a complete list of videos, visit our video library