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Elasticity

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12th Grade

Used 53+ times

Elasticity
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14 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Electricity has seen a decrease in demand of 14%, while the price has increased 18%

1.3 inelastic

1.3 elastic

.78 inelastic

.78 elastic

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Prada has seen a increase in demand of 70%, while the price has decreased 35%

.5 inelastic

.5 elastic

2 inelastic

2 elastic

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Wheat has seen a decrease in demand of 5%, while the price has increased 7%

1.4 inelastic

1.4 elastic

.71 inelastic

.71 elastic

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Oil has seen a decrease in demand of 9%, while the price has increased 13%

1.44 inelastic

1.44 elastic

.69 inelastic

.69 elastic

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Water has seen an increase in demand 8% this summer, while the price has decreased 12%

1.5 inelastic

1.5 elastic

.67 inelastic

.67 elastic

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

164,000 New York Giants Jerseys were sold in 2006 at a price of $65. 10,000 New York Giants Jerseys were sold in 2018 at a price of $80.

.24 inelastic

.24 elastic

4.1 inelastic

4.1 elastic

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

In Covington, VA 1,700 frozen turkeys were sold in 2016 at an average price of $17. In Covington, VA 1,500 frozen turkeys were sold in 2017 at an average price of $27.

4.98 inelastic

4.98 elastic

.2 inelastic

.2 elastic

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