Supply and Demand

A. -4
B. 0.25
C. 4
D. -0.25

A. elastic
B. perfectly elastic
C. unitarily elastic
D. inelastic.

A. ratio of the change in price to the change in quantity demanded.
B. ratio of the percentage change in quantity demanded to the percentage change in price.
C. ratio of the change in quantity demanded to the change in price.
D. ratio of the percentage change in price to the percentage change in quantity demanded.

A. quantity demanded equals quantity supplied
B. quantity demanded is less than quantity supplied
C. quantity supplied is greater than quantity demanded
D. quantity demanded is greater than quantity supplied

A. a decrease in the quantity supplied of
B. a decrease in the supply of
C. an increase in the quantity supplied of
D. an increase in the supply of

A. A change in wealth
B. A change in the price of compact discs
C. A change in income.
A change in the price of pre-recorded cassette tapes

A. perfect substitutes
B. complements
C. unrelated goods.
D. substitutes.

A. incomes, tastes, and the price of other goods.
B. income, tastes, and the price of the good.
C. income and tastes
D. tastes and the price of other goods

A. The ceteris paribus effect
B. The diminishing marginal utility effect.
C. The substitution effect
D. The income effect

A. as prices rise, demand decrease
B. as prices fall, quantity demanded increase
C. as prices fall demand increases
D. as prices rise, quantity demanded increases