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 95 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
Great answer, keep it coming :)

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
The Revolutionary Change in the U.S Workforce The Revolutionary Change in the U.S Workforce
Despite the globe’s vast social change, people all over the world continue to make race a ... Despite the globe’s vast social change, people all over the world continue to make race a ...
Nursing Interventions and Prochaska's Stages of Change Nursing Interventions and Prochaska's Stages of Change
The induced conformational change in hexokinase The induced conformational change in hexokinase
Hormonal change during ovulation and urinear cycles Hormonal change during ovulation and urinear cycles
Video: Amniocentesis and CVS Animation

For a complete list of videos, visit our video library