The price of a bus ride rises by 3 percent and quantity of oranges demanded decreases by 3 percent.The demand for bus rides is
A) inelastic.
B) elastic.
C) perfectly inelastic.
D) perfect elastic.
E) unit elastic.
Correct Answer:
Verified
Q12: When the price of a box of
Q13: The price of an apple falls by
Q14: When the price of gas is $1.00
Q15: The price of a plum falls by
Q16: Demand is inelastic if
A)a small change in
Q18: A unit elastic demand
A)means that the magnitude
Q19: Which one of the following illustrates an
Q20: When the price of a pair of
Q21: When a good has a vertical demand
Q22: Which one of the following situations gives
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents