Multiple Choice
Suppose the price of a television set rises by 10 percent.Which one of the following would we expect to be the most elastic following such a price change?
A) the momentary supply of television sets
B) the short-run supply of television sets
C) the long-run supply of television sets
D) the momentary demand for television sets
E) the normal demand for television sets
Correct Answer:
Verified
Correct Answer:
Verified
Q14: A rise in the price of good
Q15: The price elasticity of demand for airplane
Q16: When the price elasticity of demand is
Q17: If a 10 percent rise in the
Q18: If the cross elasticity of demand between
Q20: Which one of the following illustrates an
Q21: A good has a price elasticity of
Q22: If the supply curve passes through the
Q23: The concept used by economists to indicate
Q24: Tina and Brian work for the same