Multiple Choice
The nation's largest cable TV company tested the effect of a price reduction for premium movie channels. It increased prices from $20 to $30 per month and found virtually no change in the number of customers. This means:
A) the demand curve for the premium movie channels shifted to the right.
B) the supply curve for premium movie channels shifted to the left.
C) the demand for premium movie channels is very elastic in this price range.
D) the demand for premium movie channels is very inelastic in this price range.
Correct Answer:
Verified
Correct Answer:
Verified
Q224: If the supply curve for housing is
Q225: Exhibit 6-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 6-4
Q226: As the time to respond to a
Q227: Exhibit 6-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5768/.jpg" alt="Exhibit 6-4
Q228: If a huge percentage change in price
Q230: If the demand for a good is
Q231: If the cross price elasticity between Goods
Q232: A tax is imposed on wine. Sellers
Q233: If the short run elasticity of demand
Q234: Which of the following is false?<br>A)The price