Answer - Option A
Inelastic
If the elasticity of demand for any good is less than 0 , it means that the demand is inelastic.
It is elastic when the value is more than 1 and unitary elastic if elasticity is 1. Hence option A is only correct.
13 at 10am astructions Question 10 1p If the price elasticity of demand for bubble gumis-1,...
om/courses/2456531/quizzes/5192042/take Question 6 1 pts The price elasticity of demand for a completely vertical demand curve is unitary elastic O perfectly elastic O elastic O perfectly inelastic 1 pts Question 7 If a 3 percent reduction in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand over this range of the demand curve is unitary elastic
QUESTION 5 2 if the own price elasticity of demand is -0.2 The demand for healthcare is O Elastic O Inelastic O Unitary elastic None of the above
For each of the following demand curves: i) Find the price-elasticity of demand in terms of P. ii) Determine the range of P values for which the demand curve is perfectly elastic, elastic, unitary elastic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0 < P < 10, unitary elastic at P = 10, etc). iii) Calculate the price-elasticity of demand at P = 3 and give an interpretation in words of what that...
For each of the following demand curves: i) Find the price-elasticity of demand in terms of P. ii) Determine the range of P values for which the demand curve is perfectly elastic, elastic, unitary elastic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0 < P < 10, unitary elastic at P = 10, etc). iii) Calculate the price-elasticity of demand at P = 3 and give an interpretation in words of what that...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
PLEASE ANSWER ALL QUESTIONS. 1. Elasticity of demand for pharmaceuticals is - 0.44 Elasticity of demand for specialist visits = - 0.32 By definition describe the elasticity of demand (elastic, inelastic, or unitary elastic) for pharmaceuticals. By definition describe the elasticity of demand (elastic, inelastic, or unitary elastic) for specialist visits. Which demand is more elastic? Which demand is more inelastic? Given the elasticities in number 1, which of the 2 goods (pharmaceuticals or specialist visits) will have a flatter...
please answer all 3 asap Question 1 3 pts 1. The absolute price elasticity of demand for coffee equals 0.25. This means that: A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A 1% increase in the price of coffee will cause a 25% decrease in the quantity demanded of coffee A1 unit increase in the price of coffee will cause a 0.25 unit decrease in the quantity demanded of...
The price elasticity of demand for gizmos is known to be 0.5 (in absolute value). Therefore, the demand for gizmos can be described as A. elastic. B. unitary. C. inelastic. D. perfectly inelastic. E. perfectly elastic.
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will increase Qd(sales) 1% Ob.3% increase in price will decrease Qd(sales) 1% Oc 1% Increase in price will decrease Qd(sales) 3% 1% decrease in price will decrease Qd(sales) 3% Od. QUESTION 26 Based upon the determinants of demand elasticity, the price elasticity for toothpaste would be: O a. perfectly inelastic Ob.elastic O c. inelastic unitary elastic Od.