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Hernando G. Hernando G.
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5 years ago

Question 1.

When the absolute percentage change in quantity demanded is just equal to the percentage change in price, demand is

• elastic.

• relatively inelastic.

• unit-elastic.

• perfectly inelastic.

Question 2.

If a two percent increase in the price of bananas leads to a two percent decrease in the quantity of bananas demanded, then the demand for bananas is

• elastic.

• perfectly inelastic.

• inelastic.

• unit-elastic.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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aishasuaishasu
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5 years ago
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Hernando G. Author
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This site is awesome
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Brilliant ツ
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