
Elasticity in Demand
Authored by Patricia White
Other
11th - 12th Grade

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45 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
20 sec • 1 pt
Elasticity of demand is greater in the short-run
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is unit elastic if it is less than 1.0
4.
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?
5.
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:
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The formula for calculating elasticity of demand is:
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The elasticity of demand for tissues is 0.66. This means the demand for tissues is
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