The demand for which of the following is likely to be the most price inelastic ?
A. transportation
B. taxi rides
C. bus tickets
D. airline tickets
in general a flatter demand curve is more likely to be ?
in general a flatter demand curve is more likely to be ?
A. price elastic
B. none of these answers
C. unit price elastic
D. price inelastic
The price elasticity of demand is defined as ?
The price elasticity of demand is defined as ?
A. the percentage change in the quantity demanded divided by the percentage change in income.
B. the percentage change in income divided by the percentage change in the quantity demanded
C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
D. none of these answers
If consumers think that there are very few substitutes for a good, then ?
If consumers think that there are very few substitutes for a good, then ?
A. Supply would tend to be price elastic
B. none of these answers
C. demand would tend to be price inelastic
D. demand would tend to be price elastic
If demand is linear (a straight line) then price elasticity of demand is ?
If demand is linear (a straight line) then price elasticity of demand is ?
A. elastic in the upper portion and inelastic in the lower portion
B. inelastic in the upper portion and elastic in the lower portion
C. inelastic throughout
D. constant along the demand curve
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?
A. Rs 0 per month
B. Rs 30 per month
C. Rs 40 per month
D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?
A. 1.4
B. 0.66
C. 0.75
D. 2.0
If supply is price inelastic the value of the price elasticity of supply must be ?
If supply is price inelastic the value of the price elasticity of supply must be ?
A. infinite
B. Zero
C. less than 1
D. none of these
E. greater than 1
If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?
If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?
A. 1.50
B. 1.15
C. none of these
D. 0.15
E. 1.00
If an increase in the price of a good has no impact on the total revenue in that market demand must be ?
If an increase in the price of a good has no impact on the total revenue in that market demand must be ?
A. all of these answers
B. price inelastic
C. unit price elastic
D. price elastic