Suppose that the absolute price elasticity of demand for hamburger is 1.5 and that the absolute price elasticity of demand for steak is 2.5. Then the absolute price elasticity of demand for beef will be
A) less than 1.5.
B) more than 2.5.
C) between 1.5 and 2.5.
D) equal to 1.5.
Answer: A
Economics
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a. not change b. become less elastic c. shift upward d. shift leftward e. shift downward
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Which of the following is NOT an example of a negative externality?
A) inoculation against disease B) pollution C) playing a boom box loudly in a crowded park D) rush hour traffic
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