The price of plums falls by 7 percent and quantity of plums demanded increases by 6.75 percent. We conclude that the demand for plums is
A) inelastic.
B) perfectly elastic.
C) perfectly inelastic.
D) elastic.
E) unit elastic.
Correct Answer:
Verified
Q2: Which one of the following illustrates an
Q5: A fall in the price of a
Q6: The price of apples falls by 5
Q6: If a 12 percent fall in price
Q7: A unit elastic demand
A)means that the ratio
Q11: If the demand curve for a good
Q13: Suppose a rise in the price of
Q15: The price of good A falls by
Q16: Demand is inelastic if
A)a small change in
Q19: Which one of the following illustrates an
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