Multiple Choice
If the supply curve is unit elastic,then all of the following are correct,except:
A) A 10% increase in price causes a 10% increase in quantity supplied
B) A 20% decrease in price causes a 20% decrease in price
C) The supply curve goes through the origin
D) A 10% decrease in price causes a 10% increase in quantity supplied
E) A 20% increase in price causes a 20% increase in quantity supplied
Correct Answer:
Verified
Correct Answer:
Verified
Q12: The percentage change in the demand for
Q18: If output in the calculator market increases
Q67: Exhibit 5-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4915/.jpg" alt="Exhibit 5-8
Q76: Exhibit 5-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4915/.jpg" alt="Exhibit 5-4
Q117: As producers have more time to adjust
Q148: Price elasticity of demand and price elasticity
Q223: For a perfectly elastic supply curve,a 20%
Q227: An increase in the price of T-shirts
Q230: Exhibit 5-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4915/.jpg" alt="Exhibit 5-2
Q239: A good synonym for elasticity would be<br>A)stability<br>B)volatility<br>C)stickiness<br>D)demand<br>E)responsiveness