When quantity moves proportionately to the same amount

Assignment Help Business Economics

Reference no: EM13852557

When quantity moves proportionately to the same amount as price, demand is:

a. elastic, and the price elasticity of demand is 1.

b. perfectly elastic, and the price elasticity of demand is infinitely large.

c. perfectly inelastic, and the price elasticity of demand is 0.

d. unit elastic, and the price elasticity of demand is 1.

Reference no: EM13852557

Questions Cloud

Find the indicated binomial probabilities : find the indicated binomial probabilities

Expect the supply curve for steel beams : Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to:

Result from either a price ceiling or a price floor : An outcome that can result from either a price ceiling or a price floor is:

If nonbinding price floor is imposed on market : If a nonbinding price floor is imposed on a market, then:

When quantity moves proportionately to the same amount : When quantity moves proportionately to the same amount as price, demand is:

Likely serve as example of monopoly : Which of the following would most likely serve as an example of a monopoly?

Article distinction between conflict and radical criminology : The article Distinction Between Conflict and Radical Criminology (http://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=6223&context=jclc)defines and explores the differences between these criminological theories (Bernard, 1981)

Todays supply curve for gasoline : Today's supply curve for gasoline could shift in response to:

What is the expected growth rate : Harder Points One has just paid a dividend of $1.50, has a required return of 17% and a current stock price of $50.65. What is the expected growth rate?

User Account

All Pages