Elasticity Break Even Review
Authored by Kimberlyn Moultrie
Business
9th - 12th Grade
Used 3+ times
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the demand for a product changes when the price changes, the product is said to have ____________ demand.
elastic
inelastic
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the demand for a product does NOT change when the price changes, the product is said to have ____________ demand.
elastic
inelastic
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Healthcare has mostly ____________ demand.
elastic
inelastic
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Concerts and live entertainment have mostly ____________ demand.
elastic
inelastic
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
If a local pet groomer has $800 in expenses this month, and charges $30 for its standard shampoo & trim, how many shampoos must be done for the groomer to break even this month?
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A small restaurant has $2,500 in expenses this month. How much revenue will the restaurant need to make in order to break even?
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