4177408
Questão 1
Questão
Elastic demand is when the percent change in demand is greater than the percent change in price.
Responda
- True
- False
Questão 2
Questão
Inelastic demand is when the percent change in demand is less than the percent change in price.
Responda
- True
- False
Questão 3
Questão
What is elasticity?
Responda
-
The percent change in price over the percent change in quantity
-
The responsiveness of one variable to changes in another
-
When demand falls and price increases
Questão 4
Questão
Elasticity does not measure the extent to which demand will change.
Responda
- True
- False
Questão 5
Questão
The general population is NOT sensitive to changes in air ticket prices.
Responda
- True
- False
Questão 6
Questão
PED makes an inverse relationship between price and demand (if one rises the other falls)
Responda
- True
- False
Questão 7
Questão
If one gets a PED between 0 and -1, the relationship is elastic
Responda
- True
- False
Questão 8
Questão
When PED=0, demand is perfectly inelastic.
Responda
- True
- False
Questão 9
Questão
An elastic demand curve is more vertical in a graph.
Responda
- True
- False
Questão 10
Questão
Businesses will stop buying air tickets if their prices increase.
Responda
- True
- False
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