Multiple Choice
Suppose the price of cupcakes decreases by 5%, and the quantity of cupcakes demanded increases by 15%. Demand for cupcakes is:
A) price elastic.
B) price inelastic.
C) price unit-elastic.
D) perfectly price inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q48: The demand curve for one particular brand
Q49: The price of cakes rises by 15%.
Q50: (Figure: Estimating Price Elasticity in the Market
Q51: If the price of a good increases
Q52: (Figure: Demand Curves) The figure shows four
Q54: The price of cheddar cheese increases from
Q55: When the absolute value of the price
Q56: The price of gasoline rises by 1%,
Q57: Ron needs your help in calculating
Q58: A linear demand curve has:<br>A)a uniform elasticity