If the quantity effect outweighs the price effect of a price increase,then:
A) the good is price elastic.
B) the good is price inelastic.
C) the good is price unit elastic.
D) Any of these could be true.
Correct Answer:
Verified
Q83: A good is unit elastic if:
A)total revenue
Q84: The price elasticity of supply tells us:
A)the
Q85: Suppose that when the price of pizza
Q86: Suppose that when the price of shoe
Q87: A good is inelastic if:
A)total revenue increases
Q89: If the quantity effect outweighs the price
Q90: A price increase will cause an increase
Q91: Demand tends to be more elastic:
A)when price
Q92: A good is inelastic if:
A)total revenue decreases
Q93: Elasticity along a demand curve:
A)is constant if
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