If the demand for airline tickets to Fort Lauderdale is price elastic,
a. airline revenue will increase if supply increases
b. airline revenue will increase if supply decreases
c. a small change in price will cause a large shift in the demand curve
d. a large change in price will cause a small shift in the demand curve
e. a large change in price will cause a large shift in the demand curve
A
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A) six times greater than B) twice as much as C) forty times greater than D) one third as much as
Developing countries might be unable to respond smoothly to changing international price signals because of
(a) a lack of government regulation. (b) an abundance of skilled labor. (c) inelastic supply curves. (d) limited foreign exchange.