Top Posters
Since Sunday
52
50
25
13
9
9
9
8
8
8
8
8
New Topic  
wrote...
Posts: 145
2 months 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.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
Read 11 times
1 Reply
Replies
Answer verified by a subject expert
wrote...
Posts: 187
2 months ago
Sign in or Sign up in seconds to unlock everything.

Answer 1

unit elastic.

Answer 2

the availability of many substitutes.
1
Related Topics
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers.
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
  308 People Browsing
Your Opinion
Where do you get your textbooks?
Votes: 97

Related Images
 884
 1225
 85

▶️ Video: Studying the Left and Right Brain Independently

For a complete list of videos, visit our video library