题目内容

The local movie theater lowers admission prices in an attempt to increase its revenues. The managers of the theater must believe demand to be

A. a. unit price elastic.
B. b. perfectly price inelastic.
C. c. price elastic.
D. d. price inelastic.

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The income elasticity of demand for good X is estimated to be -0.5. This suggests that good X is

A. a. a complementary good.
B. b. a substitute good.
C. c. a normal good.
D. d. an inferior good.

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Suppose the cross-price elasticity of demand is a negative number. We know that

A. a. the two goods are complements.
B. b. the two goods are substitutes.
C. c. the two goods are inferior goods.
D. d. the two goods are normal goods.

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If the percentage change in the quantity supplied of a good is less than the percentage change in price, then supply of the good is

A. a. elastic.
B. b. inelastic.
C. c. normal.
D. d. inferior.

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Suppose the supply curve for a good is vertical. We know that supply is

A. a. price elastic.
B. b. perfectly price inelastic.
C. c. unit price elastic.
D. d. perfectly price elastic.

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The local movie theater lowers admission prices in an attempt to increase its revenues. The managers of the theater must believe demand to be

A. a. unit price elastic. B. b. perfectly price inelastic. C. c. price elastic. D. d. price inelastic.

The income elasticity of demand for good X is estimated to be -0.5. This suggests that good X is

Suppose the cross-price elasticity of demand is a negative number. We know that

If the percentage change in the quantity supplied of a good is less than the percentage change in price, then supply of the good is

Suppose the supply curve for a good is vertical. We know that supply is

A. a. unit price elastic.
B. b. perfectly price inelastic.
C. c. price elastic.
D. d. price inelastic.