
Elasticity
Authored by Sherica Simmonds
Business
9th - 12th Grade
Used 111+ times

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17 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The price elasticity of demand measures how much
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
For a particular good, a 12 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
3.
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:
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The elasticity of demand for tissues is 0.66. This means the demand for tissues is
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is unit elastic if it is less than 1.0
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand is almost always more elastic at higher prices and less elastic at lower prices.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following is not a determinant of demand elasticity?
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