The demand curve for a good is horizontal when it is:* a perfectly inelastic good. a unitary elastic good. a perfectly elastic good. an inferior good. Which of the following factors would NOT affect the own price elasticity of a good?* time price of an input available substitutes expenditure share We would expect demand for jeans to be:* more elastic than the demand for clothing. less elastic than the demand for clothing. the same as the demand for clothing. neither more elastic, less elastic, nor the same elasticity as that of the demand for clothing.
The demand curve for a good is horizontal when it is:* a perfectly inelastic good. a unitary elastic good. a perfectly elastic good. an inferior good. Which of the following factors would NOT affect the own price elasticity of a good?* time price of an input available substitutes expenditure share We would expect demand for jeans to be:* more elastic than the demand for clothing. less elastic than the demand for clothing. the same as the demand for clothing. neither more elastic, less elastic, nor the same elasticity as that of the demand for clothing.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The
a perfectly inelastic good.
a unitary elastic good.
a perfectly elastic good.
an inferior good.
Which of the following factors would NOT affect the own
time
price of an input
available substitutes
expenditure share
We would expect demand for jeans to be:*
more
less elastic than the demand for clothing.
the same as the demand for clothing.
neither more elastic, less elastic, nor the same elasticity as that of the demand for clothing.
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