Multiple Choice
If the quantity demanded is very responsive to a price change, then the demand curve would be:
A) unit elastic.
B) elastic.
C) inelastic.
D) vertical.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q81: Income inelastic demand means that the income
Q82: Income elastic demand means that the income
Q83: A good for which demand increases as
Q84: If a firm raises its price and
Q85: _ elasticity of demand is a measure
Q87: Why do inferior goods have a negative
Q88: To overcome ambiguity related to the direction
Q89: In terms of income elasticity, discuss the
Q90: The economic variable in the numerator of
Q91: If the price elasticity of demand is