Refer to Table 4.3. After calculating the price elasticity of demand for computers, we can say the demand for computers is:

A. upward sloping.
B. inelastic.
C. unit elastic.
D. elastic.


Answer: D

Economics

You might also like to view...

Four people each have a different willingness to pay for one unit of a good: George will pay $15, Glen will pay $12, Tom will pay $10, and Peter will pay $8. If price decreases from $9 to $8 then the consumer surplus from this unit will increase by

A) $3. B) $4. C) $2. D) $1.

Economics

The market demand for wheat is ________ and the demand for wheat produced by an individual farm is ________

A) perfectly elastic; perfectly inelastic B) not perfectly elastic; perfectly elastic C) not perfectly inelastic; inelastic D) elastic; unit elastic

Economics

Which of the following is likely protected by copyright?

A) Your recipe for chocolate cake B) Your autobiography C) The color scheme for your house D) The names of your children

Economics

Why do most economists favor emissions taxes over direct controls as a pollution deterrent?

Economics