Multiple Choice
When a shift in demand or supply occurs, economists can makea quick prediction of the change in price. The denominator ofthe simple price-change formula is the:
A) multiple of the elasticities of supply and demand.
B) sum of the elasticities of supply and demand.(True Answer ) Correct
C) difference between the elasticities of supply and demand.
D) percent change in either demand or supply.
Correct Answer:
Verified
Correct Answer:
Verified
Q60: (Figure: Price Decrease and Elasticity) Refer to
Q63: Economic theory suggests that permanent gun buybackprograms:<br>A)succeed
Q68: (Figure: Slave Redemption with Perfectly Elastic Supply)
Q70: If the demand curve is inelastic then
Q75: If the government raises the minimum wage
Q88: Drug prohibition is likely to increase drug-industry
Q101: Which good below might be expected to
Q106: If the price of ice cream changes
Q109: If the price of Good Y falls
Q120: Assume a product has a rather elastic