If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

Related Mcqs:

in general a flatter demand curve is more likely to be ?

A. price elastic B. unit price elastic C. none of these answers D. price inelastic...

Which of the following would cause a demand curve for a good to be price inelastic ?

A. The good is luxury B. There are a great number of substitutes for the good C. The good is a necessity D. The good is an inferior good...

If the cross-price elasticity between two goods is negative the two goods are likely to be ?

A. substitutes B. complements C. necessities D. luxuries...

The price elasticity of demand is defined as ?

A. the percentage change in the quantity demanded divided by the percentage change in income. B. the percentage change in income divided by the percentage change in the quantity demanded C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good D. none of … The price elasticity of demand is defined as ?Read More...

in general a flatter demand curve is more likely to be ?

A. price elastic B. none of these answers C. unit price elastic D. price inelastic...