If the price of Snickers candy bars fall 10% and quantity demanded rises by 11%, demand is _________.
Fill in the blank(s) with the appropriate word(s).
slightly elastic or elastic
Economics
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In the market for factors of production, firms earn income by selling factors of production to households
Indicate whether the statement is true or false
Economics
The aggregate supply curve shows the relation between
A) the real interest rate and the aggregate amount of output that firms supply. B) the price level and the aggregate amount of output that firms supply. C) the supply of goods by firms and the price of goods relative to the price of nonmonetary assets. D) the inflation rate and the unemployment rate.
Economics