1) A given change in quantity demanded caused by a proportional change in price is called: Unit Elasticity Inelasticity ` Elasticity None of the above 2) The price elasticity of demand measures how much demand responds to change in supply True False All of the above None of the above

1) A given change in quantity demanded caused by a proportional change in price is called: Unit Elasticity Inelasticity ` Elasticity None of the above 2) The price elasticity of demand measures how much demand responds to change in supply True False All of the above None of the above

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16SQ

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Question

Subject: Manegerial Economics & Policy

MCQ's

1) A given change in quantity demanded caused by a proportional change in price is called:

Unit Elasticity

Inelasticity `

Elasticity

None of the above

2) The price elasticity of demand measures how much demand responds to change in supply

True

False

All of the above

None of the above

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