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The fewer the substitutes for a good or service, the more __ is the demand for it The smaller the proportion of income spent on a good, the more __ is the demand for it. A. inelastic; inelastic B. inelastic; elastic C. elastic; elastic D. elastic; inelastic The shorter the time that has elapsed since a price change, the more __ A. elastic is demand B. linear is the demand curve C. inelastic is demand D. non-linear is the demand curve When the total revenue test is negative (a price cut decreases total revenue), the demand for the good is __ When the total revenue test is positive (a price cut increases total revenue), the demand for the good is __ A. unit elastic; elastic B. elastic; inelastic C. inelastic; unit elastic D. inelastic; elastic Rain spoils the strawberry crop, the price of strawberries rises from 4 to 6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week Calculate the price elasticity of demand over this price range. Describe the demand for strawberries. Over the price range of 4 to 6. the price elasticity of demand is square >>> Answer to 2 decimal places. Over this price range the demand for strawberries is __ A. unit elastic B. inelastic C. elastic f the quantity of dental services demanded increases by 15 percent when the price of dental services falls by 10 percent, is the demand for dent. services inelastic, elastic, or unit elastic? The demand for dental services is __ A. elastic B. inelastic C. price elastic when the price falls, but price inelastic if the price rises D. unit elastic

Soru

The fewer the substitutes for a good or service, the more __ is the demand for it
The smaller the proportion of income spent on a good, the more __ is the demand for it.
A. inelastic; inelastic
B. inelastic; elastic
C. elastic; elastic
D. elastic; inelastic
The shorter the time that has elapsed since a price change, the more __
A. elastic is demand
B. linear is the demand curve
C. inelastic is demand
D. non-linear is the demand curve
When the total revenue test is negative (a price cut decreases total revenue), the demand for the good is __
When the total revenue test is positive (a price cut increases total revenue), the demand for the good is __
A. unit elastic; elastic
B. elastic; inelastic
C. inelastic; unit elastic
D. inelastic; elastic
Rain spoils the strawberry crop, the price of strawberries rises from 4 to 6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week
Calculate the price elasticity of demand over this price range. Describe the demand for strawberries.
Over the price range of 4 to 6. the price elasticity of demand is square 
>>> Answer to 2 decimal places.
Over this price range the demand for strawberries is __
A. unit elastic
B. inelastic
C. elastic
f the quantity of dental services demanded increases by 15 percent when the price of dental services falls by 10 percent, is the demand for dent.
services inelastic, elastic, or unit elastic?
The demand for dental services is __
A. elastic
B. inelastic
C. price elastic when the price falls, but price inelastic if the price rises
D. unit elastic

The fewer the substitutes for a good or service, the more __ is the demand for it The smaller the proportion of income spent on a good, the more __ is the demand for it. A. inelastic; inelastic B. inelastic; elastic C. elastic; elastic D. elastic; inelastic The shorter the time that has elapsed since a price change, the more __ A. elastic is demand B. linear is the demand curve C. inelastic is demand D. non-linear is the demand curve When the total revenue test is negative (a price cut decreases total revenue), the demand for the good is __ When the total revenue test is positive (a price cut increases total revenue), the demand for the good is __ A. unit elastic; elastic B. elastic; inelastic C. inelastic; unit elastic D. inelastic; elastic Rain spoils the strawberry crop, the price of strawberries rises from 4 to 6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week Calculate the price elasticity of demand over this price range. Describe the demand for strawberries. Over the price range of 4 to 6. the price elasticity of demand is square >>> Answer to 2 decimal places. Over this price range the demand for strawberries is __ A. unit elastic B. inelastic C. elastic f the quantity of dental services demanded increases by 15 percent when the price of dental services falls by 10 percent, is the demand for dent. services inelastic, elastic, or unit elastic? The demand for dental services is __ A. elastic B. inelastic C. price elastic when the price falls, but price inelastic if the price rises D. unit elastic

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1. The fewer the substitutes for a good or service, the more inelastic is the demand for it. The smaller the proportion of income spent on a good, the more inelastic is the demand for it.
Answer: A. inelastic; inelastic

2. The shorter the time that has elapsed since a price change, the more inelastic is demand.
Answer: C. inelastic is demand

3. When the total revenue test is negative (a price cut decreases total revenue), the demand for the good is inelastic. When the total revenue test is positive (a price cut increases total revenue), the demand for the good is elastic.
Answer: D. inelastic; elastic

4. To calculate the price elasticity of demand over the price range of 4 to 6, we can use the formula:
Price Elasticity of Demand = (Percentage Change in Quantity Demanded) / (Percentage Change in Price)

Percentage Change in Quantity Demanded = (600 - 1000) / 1000 * 100 = -40%
Percentage Change in Price = (6 - 4) / 4 * 100 = 50% Price Elasticity of Demand = -40% / 50% = -0.8 Over the price range of 4 to $6, the price elasticity of demand is -0.8.
Answer: -0.8

Over this price range, the demand for strawberries is inelastic.
Answer: B. inelastic

5. If the quantity of dental services demanded increases by 15 percent when the price of dental services falls by 10 percent, the demand for dental services is elastic.
Answer: A. elastic
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