If household expenditures on electricity remain constant when the price of electricity increases,the price elasticity for electricity is
A) one (demand is unit elastic) .
B) exactly zero.
C) greater than one (demand is elastic) .
D) less than one (demand is inelastic) .
E) not determinable from the information given.
Correct Answer:
Verified
Q1: Suppose you are advising the government on
Q2: The formula for the price elasticity of
Q4: Normal goods
A)have negative elasticity of supply.
B)are sometimes
Q5: The "economic incidence" of an excise tax
Q6: If the demand for a product has
Q7: Suppose a market is in equilibrium at
Q8: An upward- sloping straight- line supply curve
Q9: If two goods,X and Y,have a positive
Q10: Which of the following statements would you
Q11: Suppose the cross elasticity of demand for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents