Elasticity of Demand
Authored by Derek Culp
Social Studies
9th - 10th Grade
Used 17+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is almost always more elastic at higher prices and less elastic at lower prices.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Elasticity of demand is greater in the short-run
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppose that elasticity of demand of socks is 0.7. If the price of socks is reduced by 10%, how will sales be effected?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price on a product goes up the quantity demanded will go down. This follows the economic theory of:
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The formula for calculating elasticity of demand is:
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The elasticity of demand for tissues is 0.66. This means the demand for tissues is
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following is not a determinant of demand elasticity?
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