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Feb 20, 2024

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uestion 1 0 / 10 poi Demand is price inelastic if: Question options: the price of the good responds slightly to a quantity change. the demand curve shifts very little when a demand shifter changes. the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. all of the above are true. Question 2 10 / 10 points If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is: Question options: price elastic. price inelastic. unit price elastic. upward sloping. Question 3 10 / 10 points Which of the following will lead to a decrease in total revenue? Question options: price goes up and demand is perfectly inelastic price goes up and demand is price inelastic price declines and demand is price elastic price increases and demand is price elastic Question 4 10 / 10 points If total revenue goes up when price falls, the price elasticity of demand is said to be:
Question options: price inelastic. unit price elastic. price elastic. positive.
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