Buying response to a teeth whitening product is considered to be "elastic demand". This would suggest dropping the price would result in:     the purchase of related tooth care products     delayed sales of the product     decreased sales of the product     increased sales of the product     static sales of the product

The price elasticity of supply measures the response of sellers to change in the price of a product. True/ False

Elasticity is expressed in both positive and negative values   True  False

True or false. Midpoint elasticity is greater than 1.

Find the point advertising elasticity of demand of a medical supplier if the business spent 10,000 from the previous budget of 8,000 and the sale increased from 100000 to 200000

The price elasticity of demand for holidays in Italy is likely to be high because: Group of answer choices people tend to book up a long time in advance. there are plenty of different holidays abroad to choose from. expenditure on holidays account for a relatively small part of people’s total income. holidays at home provide no real alternative. people need a holiday if they are to cope with the year ahead – and they prefer holidays abroad.

The price of product X is reduced from $150 to $140 and, as a result, the quantity demanded increases from 20 to 24 units. Therefore, demand for X in this price range   Multiple Choice   has declined.   is of unit elasticity.   is inelastic.

Price elasticity measures the:         change in quantity per unit change in price.     change in price per unit change in quantity.     percentage change in quantity for each 1% change in price.     price sensitivity when quantity purchased changes.     quantity divided by price.

Supply is said to be inelastic when the quantity supplied changes *more than the change in its price.less than the change in it price.equal to the change in its price.none of the above This good is more elastic in supply. *milkhamburgercornhousing Elasticity of supply tends to be greater when *inputs are specialized.time period allowed for adjustment is fairly long.degree of advertising is great.demand for the product is inelastic.

If a firm finds that it can sell $32,000 worth of a product when its price is $8 per unit and $35,000 worth of it when its price is $10, then Multiple Choice the demand for the product is inelastic in the $10-$8 price range. the demand for the product must have increased. elasticity of demand is 1.67. the demand for the product is elastic in the $10-$8 price range.