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sulee sulee
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6 years ago
A _______ demand curve has a price elasticity of demand that is perfectly inelastic.
 a. circular
 b. horizontal
 c. rectangular hyperbola
  d. vertical

QUESTION 2

A _______ demand curve has a price elasticity of demand that is perfectly elastic.
 a. vertical
 b. rectangular hyperbola
  c. horizontal
 d. circular

QUESTION 3

Suppose you are on a committee seeking to increase revenue from your city's bus system. If demand is _______, you would recommend raising the fare.
 a. perfectly elastic
  b. elastic
 c. unitary elastic
 d. inelastic

QUESTION 4

If the price elasticity of demand for a product measures .45,
 a. this good has many available substitutes.
  b. this good must be a nonessential good.
  c. this good is a high-priced good.
  d. a decrease in price will increase total revenue.
  e. this good is demand price inelastic.

QUESTION 5

Elasticity measures how sensitive consumers are by measuring their change in ____ as the price of the product changes.
 a. attitude
  b. income
  c. quantity demanded
  d. supply
  e. taxes
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jeff21welchjeff21welch
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6 years ago
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sulee Author
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#2
6 years ago
TY
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6 years ago
My pleasure
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