Multiple Choice
Tina and Brian work for the same recording company.Tina claims they would be better off by raising the price of their CDs,while Brian claims they would be better off by lowering the price.Choose the correct statement.
A) Tina thinks the demand for CDs has price elasticity of demand equal to zero,and Brian thinks price elasticity of demand equals 1.
B) Tina thinks the demand for CDs has price elasticity of demand equal to 1,and Brian thinks price elasticity of demand equals zero.
C) Tina thinks the demand for CDs is price elastic,and Brian thinks it is price inelastic.
D) Tina thinks the demand for CDs is price inelastic,and Brian thinks it is price elastic.
E) Tina and Brian both think the demand for CDs is unit elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Q19: Suppose the price of a television set
Q20: Which one of the following illustrates an
Q21: A good has a price elasticity of
Q22: If the supply curve passes through the
Q23: The concept used by economists to indicate
Q25: If Saudi Arabia argues that an increase
Q26: Suppose that the price elasticity of demand
Q27: If Mr.Brown's income increases by 12 percent
Q28: Use the table below to answer the
Q29: When the price elasticity of demand is