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Shift in demand would not affect price when supply

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Reference no: EM132135688

Can you please provide the answer and explanation?

A shift in demand would not affect price when supply is

  • perfectly elastic
  • of zero elasticity
  • less than one but greater than zero
  • perfectly inelastic

If two goods have negative cross price elasticity of demand, we know that

  • they are both inferior goods
  • they are substitutes
  • they are both normal goods
  • one is inferior and the other in normal, but we can't determine which is which
  • they are complementary goods

An increase in the price of a good and a decrease in total expenditure on this good are associated with

  • substitute goods
  • normal goods
  • elastic demand
  • inelastic demand
  • inferior goods

Reference no: EM132135688

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