If price elasticity is less than one, then demand is said to be inelastic
Indicate whether the statement is true or false
True
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Consumer surplus increases whenever the price of a good increases
a. True b. False Indicate whether the statement is true or false
Revenue sharing is usually a means of
a. making states transfer money to the federal government. b. equalizing expenditures per pupil made by school districts. c. splitting the revenue earned from excise taxes between states and the federal government. d. making grants to state and local governments.
Changes in the price of other goods lead to
A. a change in quantity demanded. B. a change in demand. C. a movement along the demand curve. D. no change in the demand curve.
A firm that practices multimarket price discrimination will set the lower price in the market that has the most elastic demand
What will be an ideal response?