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Author Question: When a good is price inelastic, consumer expenditures on the good A) increase when price ... (Read 84 times)

Tazate

  • Hero Member
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  • Posts: 532
on: Jul 1, 2018
When a good is price inelastic, consumer expenditures on the good
 
  A) increase when price increases.
  B) decrease when price increases.
  C) do not change when price increases.
  D) are not related to price elasticity of demand.

Question 2

For automobile demand in the U.S., the income response tends to be larger in the:
 
  A) short run.
  B) long run.
  C) The income response is the same in the long run and the short run.
  D) We do not have enough information to answer this question.


xiazhe

  • Sr. Member
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  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


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