Multiple Choice
If your demand for petrol is inelastic, when the price of petrol falls, which of the following occurs?
A) Your demand curve for petrol will shift rightward.
B) Your total expenditure on petrol will increase.
C) Your total expenditure on petrol will decrease.
D) Your demand curve for petrol will shift leftward.
Correct Answer:
Verified
Correct Answer:
Verified
Q102: Because product X has a very small,
Q103: If a 20 per cent increase in
Q104: If a good is produced using inputs
Q105: Which of the following factors will make
Q106: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -In the figure
Q108: The income elasticity of demand is a
Q109: If the elasticity of supply is 4,
Q110: The income elasticity of demand for bicycles
Q111: The price elasticity of demand can range
Q112: Demand is perfectly inelastic when<br>A) the good