As one moves southeast on a linear demand curve
A) Demand becomes more elastic
B) Demand becomes more inelastic
C) Elasticity stays the same
D) One cannot tell what happens to elasticity unless the slope of demand is known
Correct Answer:
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Q9: The price consumption curve shows us
A)Whether we
Q10: If the demand for widgets is inelastic,
Q11: The income effect
A)Moves in the opposite direction
Q12: The income consumption curve
A)Always goes through the
Q13: At $5 Joe buys 1 pen; at
Q15: The formula for elasticity is given
Q16: For a Giffin good
A)The income effect is
Q17: As one moves southeast on a downward
Q18: The Engel curve for a Giffin good
A)Slopes
Q19: The substitution effect is
A)Always greater than the
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