Multiple Choice
If the total revenue received by sellers of DVDs increases by 20 per cent when price increases by 10 per cent, then demand for DVDs is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q35: A 20 per cent increase in the
Q36: The price elasticity of demand is 5.0
Q37: A rise in the price of good
Q38: Dan sells newspapers. Dan says that a
Q39: The income elasticity of demand is largest
Q41: An increase in Abigail's income decreases her
Q42: On a straight- line downward- sloping demand
Q43: Suppose tennis shoes cost $50 per pair
Q44: If the price elasticity is between 0
Q45: If Sam wants to increase her total