Multiple Choice
If the demand for a good is elastic, then
A) the quantity demanded divided by the price exceeds 1.00.
B) a change in the quantity demanded is smaller than the change in price.
C) a change in price leads to a smaller percentage change in the quantity demanded.
D) people substantially decrease the quantity of the good they buy if its price increases by a small percentage.
E) people do not change the quantity they demand when the price of the good changes.
Correct Answer:
Verified
Correct Answer:
Verified
Q85: If the cross elasticity of demand between
Q86: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -Using the table
Q87: The price of one-bedroom apartments in Mildura
Q88: If the price of a good increases
Q89: If a 1 per cent increase in
Q91: If a good is a necessity, it
Q92: If a 2 per cent rise in
Q93: Of the following, which good has the
Q94: If the price doubles and the quantity
Q95: If the price of one good increases