Solved

If the Price of a Good Rises by 10% and the Percentage

Question 45

Multiple Choice

If the price of a good rises by 10% and the percentage decrease in the total amount consumers spend on the good is 5% then the good is

A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly inelastic.

Related Questions

Q40: The variable cost to the producer<br>A)The area

Q41: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2628/.jpg" alt=" -In Figure 3.1,

Q42: Demand for a good which comprises a

Q43: If the percentage change in quantity supplied

Q44: The cross price elasticity for Sprite for

Q46: If the price of a good rises

Q47: The difference between the value of a

Q48: Which of the following is true?<br>A)on a

Q49: For a given increase in supply, the

Q50: If the price of a good rises