The figure above illustrates a linear demand curve. If the price rises from $6 to $8 demand is ________ and if the price falls from $8 to $6 demand is ________
A) elastic; elastic
B) elastic; inelastic
C) inelastic; elastic
D) inelastic; inelastic
A
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What would be the Nash equilibrium of this simultaneous game?
a. Boxing, boxing b. Ballet, ballet c. Boxing, ballet d. Both A&B
Ronald Coase's study, "The Nature of the Firm," argued that firms are formed to take advantage of situations in which hierarchies are more efficient than markets
a. True b. False
Which of the following concerning the relationship between elasticity and total revenue is true? a. Price elasticity and total revenue are not related. b. When demand for a good is unit elastic, any price change within the unit elastic price range changes total revenue by one
c. When demand for a good is price inelastic, total revenue increases when price increases. d. When demand for a good is price elastic, total revenue increases when price increases. e. Total revenue is maximized when the price elasticity of demand is zero.
The model yt = yt -1 + et, t = 1, 2, … represents a:
A. AR(2) process. B. MA(1) process. C. random walk process. D. random walk with a drift process.