ELASTICITY OF DEMAND
Quiz
•
Education
•
11th Grade
•
Practice Problem
•
Hard
Arushi Sinha
Used 889+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Demand is almost always more elastic at higher prices and less elastic at lower prices.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Demand is unit elastic if it is less than 1.0
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The formula for calculating elasticity of demand is:
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
which of the following is not a determinant of demand elasticity?
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the price on a product goes up the quantity demanded will go down. This follows the economic theory of:
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does it mean?
Ed = 0
Perfectly inelastic demand
Inelastic demand
Unitarily elastic demand
Elastic demand
Perfectly elastic demand
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does it mean?
Ed = 1
Perfectly inelastic demand
Inelastic demand
Unitarily elastic demand
Elastic demand
Perfectly elastic demand
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