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shaerovira shaerovira
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5 years ago

Question 1.

If the price of a good increases and the total revenue remains the same, the demand for the good is

• unit elastic.

• inelastic.

• elastic.

• perfectly elastic.

Question 2.

An elastic response in the quantity of a good demanded would be caused by

• the good representing a small portion of a person's budget.

• the availability of many substitutes.

• a lack of sensitivity to the good's price.

• a lack of substitutes.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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jackjohnson74jackjohnson74
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#1
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5 years ago
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shaerovira Author
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5 years ago
You make an excellent tutor!
lierac00
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Thanks
sleinhi
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2 hours ago
Smart ... Thanks!
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