When the price of CD players increases 5%, quantity demanded decreases 5%. The price elasticity for CD players is
A) inelastic.
B) unit elastic.
C) elastic.
D) perfectly inelastic.
Correct Answer:
Verified
Q1: If price rises from $2 to $3
Q2: Which statement is true?
A)A perfectly elastic demand
Q6: An elasticity of 0.75 means that a
Q7: If demand is elastic and price is
Q11: The lowest possible elasticity shown here is
A)10.
B)1.0.
C)0.1.
D)0.01.
E)0.001.
Q16: Which statement is false?
A)The most important determinant
Q19: A demand curve that is perfectly horizontal
Q27: The elasticity closest to unit elastic would
Q29: The elasticity all along a downward-sloping straight-line
Q33: A perfectly inelastic demand curve is
A)a vertical
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