Solved

If the Price of Good X Falls and the Demand

Question 1

Multiple Choice

If the price of good X falls and the demand for good X is inelastic, then the percentage __________ in quantity demanded is __________ the percentage fall in price, and total revenue __________.


A) fall; greater than; rises
B) rise; less than; rises
C) fall; equal to; remains constant
D) rise; less than; falls
E) fall; greater than; falls

Correct Answer:

verifed

Verified

Related Questions

Q2: Exhibit 19-2<br>​<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-2 ​

Q3: If the price of good A decreases

Q4: As the price of a good falls

Q5: The longer the period of time allowed

Q6: If Casey bought 16 cotton t-shirts last

Q7: Cross elasticity of demand is the percentage

Q8: Price elasticity of demand is a measure

Q9: Exhibit 19-4<br>​<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-4 ​

Q10: Exhibit 19-5<br>​<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-5 ​

Q11: Exhibit 19-5<br>​<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-5 ​