"Unit elasticity of demand can be found everywhere along a straight-line demand curve with a slope of -1." Do you agree or disagree? Explain
What will be an ideal response?
Disagree. A vertical demand curve implies perfectly inelastic demand and a horizontal demand curve implies perfectly elastic demand. However, unit elasticity of demand can only be can found in the mid-range of a straight-line demand curve with a slope of -1, but not anywhere else along it.
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Even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs
A) were not listed due to low rates of inflation. B) changed every month. C) tended to fall during periods of high inflation. D) were typically fixed for a year or more.
For a theme park two-tier pricing can include a positive admission price and a zero per-ride fee
Indicate whether the statement is true or false