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 106 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
Thanks for the timely response, appreciate it

anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Greater wings Greater wings
Cumulative change for six personality-trait domains across the life course show distinct patterns. Cumulative change for six personality-trait domains across the life course show distinct patterns.
Historical Climate Change "تغير المناخ التاريخي" Historical Climate Change "تغير المناخ التاريخي"
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Vasectomy

For a complete list of videos, visit our video library