When Johanna cut prices in her jewelry store by 20 percent, the dollar value of her sales fell by 20 percent.This indicates that
A) demand was elastic.
B) demand was inelastic.
C) demand was unit elastic.
D) the demand curve was vertical.
Correct Answer:
Verified
Q149: Elasticity provides a guide to both
A)market stability
Q150: If the demand curve is vertical, the
Q151: Along a straight-line demand curve, the
A)slope is
Q152: If the demand curve is perfectly elastic,
Q153: A craze for apples in Riverdale increases
Q155: An article in the Wall Street Journal
Q156: If a firm increases its prices when
Q157: A price cut will increase the revenue
Q158: Along a straight-line demand curve (dropping all
Q159: The emigration of some of Whoville's workers
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