Demand is inelastic when
A. the percentage change in quantity demanded is greater than percentage change in price.
B. the percentage change in price is greater than percentage change in quantity.
C. the percentage change in price is equal to percentage change in quantity.
B. the percentage change in price is greater than percentage change in quantity.
You might also like to view...
The three functions of money are
A) store of value, medium of exchange, payment specie. B) store of value, unit of account, bank settlement. C) store of value, unit of account, to regulate the economy. D) store of value, unit of account, medium of exchange.
The very high pay earned by the best actors and actresses is partially explained by the fact that
a. they benefit from a compensating differential. b. moviegoers all want to see the very best actors, not second-rate actors. c. they have acting degrees from accredited acting schools. d. the supply of good actors is very large.
Nonresidential structures are examples of physical capital.
Answer the following statement true (T) or false (F)
Congress's passage of new laws significantly increasing the regulation of business would tend to ________.
A. increase per-unit production costs and shift the aggregate demand curve to the left B. increase per-unit production costs and shift the aggregate supply curve to the right C. increase per-unit production costs and shift the aggregate demand curve to the right D. increase per-unit production costs and shift the aggregate supply curve to the left