Multiple Choice
Demand is perfectly inelastic when
A) a good has perfect substitutes.
B) an increase in supply does not change total revenue.
C) a decrease in supply decreases total revenue.
D) the price elasticity of demand is negative.
E) an increase in supply does not change the equilibrium quantity.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: The cross elasticity of demand for good
Q2: If a 12 percent fall in price
Q3: If a large percentage drop in the
Q4: Which of the following will have the
Q5: If good A is a substitute for
Q7: Which one of the following is true
Q8: When the price of a pair of
Q9: A unit elastic demand<br>A)means that the magnitude
Q10: Demand will be more inelastic the<br>A)lower the
Q11: Use the table below to answer the