If a good has a price elasticity of demand coefficient less than one, then:
A. this good has an elastic demand.
B. this good has an inelastic demand.
C. a 10 percent increase in the price will result in a greater than 10 percent decrease in the quantity demanded.
D. the demand curve will be vertical.
Answer: B
Economics
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At a higher nominal interest rate, the demand for money decreases
a. True b. False Indicate whether the statement is true or false
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Imagine that Wingate National is a new bank, and that the legal reserve requirement is 10 percent. If it accepts a $1,000 deposit, then it alone can increase the money supply by
a. $900 b. $910 c. $1,000 d. $9,000 e. $10,000
Economics