BB Hypermarket reduces the price of salt by 10% which results in zero (0) change in demand, the demand ofsalt is:O a. Unitary elastic demandO b. Perfectly elastic demandO c. Elastic demandO d. Perfectly inelastic demandWhy principles of microeconomics are called as Price theory?O a. Microeconomic principles are required for determining output pricesO b. Microeconomic principles are required for determining input pricesO c. Microeconomic principles are required for determining the prices of inputs and outputO d. Microeconomic principles are required for understanding the types of market structure

The price elasticity (Ed) of demand is the measure of extent of sensitiveness or responsiveness of…

ly inelastic demand s of microeconomics are called as Price theory? conomic principles are required for determining outpu conomic principles are required for determining input conomic principles are required for determining the pr

ly inelastic demand s of microeconomics are called as Price theory? conomic principles are required for determining outpu conomic principles are required for determining input conomic principles are required for determining the pr

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

BB Hypermarket reduces the price of salt by 10% which results in zero (0) change in demand, the demand of
salt is:
O a. Unitary elastic demand
O b. Perfectly elastic demand
O c. Elastic demand
O d. Perfectly inelastic demand
Why principles of microeconomics are called as Price theory?
O a. Microeconomic principles are required for determining output prices
O b. Microeconomic principles are required for determining input prices
O c. Microeconomic principles are required for determining the prices of inputs and output
O d. Microeconomic principles are required for understanding the types of market structure

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