BB Hypermarket reduces the price of salt by 10% which results in zero (0) change in demand, the demand ofsalt is:O a. Unitary elastic demandO b. Perfectly elastic demandO c. Elastic demandO d. Perfectly inelastic demandWhy principles of microeconomics are called as Price theory?O a. Microeconomic principles are required for determining output pricesO b. Microeconomic principles are required for determining input pricesO c. Microeconomic principles are required for determining the prices of inputs and outputO d. Microeconomic principles are required for understanding the types of market structure

The price elasticity (Ed) of demand is the measure of extent of sensitiveness or responsiveness of…

ly inelastic demand s of microeconomics are called as Price theory? conomic principles are required for determining outpu conomic principles are required for determining input conomic principles are required for determining the pr

ly inelastic demand s of microeconomics are called as Price theory? conomic principles are required for determining outpu conomic principles are required for determining input conomic principles are required for determining the pr

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 6PA: The price of coffee rose sharply last month, while the quantity sold remained the same. Five people...

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Question

BB Hypermarket reduces the price of salt by 10% which results in zero (0) change in demand, the demand of
salt is:
O a. Unitary elastic demand
O b. Perfectly elastic demand
O c. Elastic demand
O d. Perfectly inelastic demand
Why principles of microeconomics are called as Price theory?
O a. Microeconomic principles are required for determining output prices
O b. Microeconomic principles are required for determining input prices
O c. Microeconomic principles are required for determining the prices of inputs and output
O d. Microeconomic principles are required for understanding the types of market structure

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