Solved

Match the Following Terms to Their Description

Question 99

Matching

Match the following terms to their description.

Premises:
Unit elasticity
Perfectly inelastic
Perfectly elastic
Relatively inelastic
Relatively elastic
Responses:
If the elasticity is less than one,large changes in price will cause small changes in demand.
If the elasticity is greater than one,demand is very responsive to changes in price.
For high elasticity values,any change in price causes a vast change in demand.
For elasticity values of zero,a change in price has no influence on demand.
For elasticity values of one,any change in price results in an equal and opposite change in demand.

Correct Answer:

Unit elasticity
Perfectly inelastic
Perfectly elastic
Relatively inelastic
Relatively elastic
Related Questions

Q91: In Solver,the recommended first step to creating

Q92: By clicking the _ button on the

Q93: The Solver _ Report displays various statistical

Q94: Of the three What-If Analysis tools available

Q95: Match the following terms to their description.

Q96: Match the following terms to their description.

Q97: Match the following terms to their description.

Q98: Match the following terms to their description.

Q100: Match the following terms to their description.

Q101: Match the following terms to their description.

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents