Multiple Choice
Deb's income has just risen from $950 per week to $1,050 per week. As a result, she decides to increase the number of movies she attends each month by 5 per cent. Her demand for movies is
A) represented by a vertical line.
B) income elastic.
C) income inelastic.
D) represented by a horizontal line.
Correct Answer:
Verified
Correct Answer:
Verified
Q46: The price elasticity of demand is equal
Q47: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The above table
Q48: The elasticity of supply equals _ if
Q49: Supply is elastic if<br>A) the slope of
Q50: As time passes after a change in
Q52: When the price of a movie ticket
Q53: The demand for _ is more elastic
Q54: A 10 per cent increase in income
Q55: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The demand curve
Q56: If the price of salt increases and