Multiple Choice
If a good has an absolute price elasticity of 2, the demand for the good is
A) unit elastic.
B) inelastic.
C) perfectly elastic.
D) elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q120: An inferior good has an income elasticity
Q203: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5013/.jpg" alt=" -In the above
Q206: A 2 percent increase in the price
Q207: An 18 percent increase in the price
Q210: A local transit authority charges $1 for
Q211: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5013/.jpg" alt=" -In the above
Q217: The price elasticity of supply is higher
Q278: The price elasticity of demand along a
Q319: A positive cross price elasticity of demand
Q395: An increase in total revenue will result