Which of the following is an example of inelastic demand?
a. A 10 percent increase in the price of milk leads to a 20 percent decrease in the quantity demanded of milk.
b. A 10 percent increase in the price of milk leads to a 10 percent decrease in the quantity demanded of milk.
c. A 10 percent increase in the price of milk leads to a 5 percent decrease in the quantity demanded of milk.
d. A 10 percent increase in the price of milk leads to a 10 percent increase in the quantity demanded of milk.
e. A 10 percent increase in the price of milk leads to a 5 percent increase in the quantity demanded of milk.
c
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In the above figure, which movement illustrates the impact of a rising price level and a constant money wage rate?
A) E to I B) E to F C) E to G D) E to K
In the United States, loans from ________ are far ________ important for corporate finance than are securities markets
A) government agencies; more B) government agencies; less C) financial intermediaries; more D) financial intermediaries; less