Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand greater than one indicates demand:
A. for the good is elastic.
B. for the good is inelastic.
C. for the good is unitary elastic.
D. cannot be determined without more information.
A. for the good is elastic.
You might also like to view...
The data points on a supply curve come from
A) survey analysis. B) the same place from which we get the data points on a demand curve. C) the supply schedule. D) companies' annual reports.
Which of the following is not correct?
a. The demand curve facing a competitive firm is perfectly elastic. b. The demand curve facing a monopolist is the market demand curve. c. A monopolist can charge any price and sell any quantity that it chooses. d. A monopolist can alter the market price by adjusting the quantity that it produces.
Referring to a production possibilities curve and the goods being compared, depict the economic event. The economy moves from full employment to a serious recession (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward) E. A movement along the curve
The newest evidence on Head Start suggests that ________ participants are more likely to go to college later in life than equally-situated non-participants.
A. white B. all C. African-American D. Asian