Along the inelastic portion of a demand curve,
a. the change in price will always be less than the change in quantity demanded.
b. the percentage change in price will be less than the percentage change in quantity demanded.
c. the change in price will always be more than the change in quantity demanded.
d. the percentage change in price will be more than the percentage change in quantity demanded.
D
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Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price decreases from $5 to $2?
A) 0.64 B) 1.25 C) 1.75 D) 2
The unemployment rate tends to be higher in the European Union as compared to the United States
Indicate whether the statement is true or false
Inflation reduction is more politically popular than full employment and poverty reduction
Indicate whether the statement is true or false
If government purchases are increased by $30, taxes are reduced by $30, and the MPC is 0.75, equilibrium output will change by
A. $900. B. $210. C. $30. D. zero.