% Change in quantity supplied is smaller than % change in price
Economics Elasticity
9th Grade - University
•11 Qs
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Richard Webber
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfectly Inelastic Supply
Inelastic Supply
Elastic Supply
Perfectly Elastic Supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% Change in quantity supplied is zero for any % change in price
Perfectly Inelastic Supply
Inelastic Supply
Elastic Supply
Perfectly Elastic Supply
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% Change in quantity supplied is infinite for any % change in price
Perfectly Inelastic Supply
Inelastic Supply
Elastic Supply
Perfectly Elastic Supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% Change in quantity supplied is larger than % change in price
Perfectly Inelastic Supply
Inelastic Supply
Elastic Supply
Perfectly Elastic Supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% change in quantity is smaller than % change in price
Perfectly Inelastic Demand
Inelastic Demand
Elastic Demand
Perfectly Elastic Demand
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% change in quantity is larger than % change in price
Perfectly Inelastic Demand
Inelastic Demand
Elastic Demand
Perfectly Elastic Demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% change in quantity is infinite for any % change in price
Perfectly Inelastic Demand
Inelastic Demand
Elastic Demand
Perfectly Elastic Demand
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