Elasticity

A. an elastic good
B. an inferior good
C. a normal good
D. a luxury good

A. price inelastic
B. none of these
C. unit price elastic
D. price elastic

A. increase total revenue to farmers as a whole because the demand for food is elastic
B. increase total revenue to farmers as whole because the demand for food is inelastic
C. reduce total revenue to farmers as a whole because the demand for food is elastic
D. reduce total revenue to farmers as a whole because the demand for food is inelastic

A. demand is price inelastic
B. supply is price elastic
C. supply is price inelastic
D. demand is price elastic

A. the quantity supplied is sensitive to changes in the price of that good
B. That quantity demanded is insensitive to changes in the price of that good
C. the quantity demanded is sensitive to changes in the price of that good
D. the quantity supplied is incentive to changes in the price of that good
E. None of these

A. transportation
B. taxi rides
C. bus tickets
D. airline tickets

A. price elastic
B. none of these answers
C. unit price elastic
D. price inelastic

A. the percentage change in the quantity demanded divided by the percentage change in income.
B. the percentage change in income divided by the percentage change in the quantity demanded
C. the percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
D. none of these answers

A. Supply would tend to be price elastic
B. none of these answers
C. demand would tend to be price inelastic
D. demand would tend to be price elastic

A. elastic in the upper portion and inelastic in the lower portion
B. inelastic in the upper portion and elastic in the lower portion
C. inelastic throughout
D. constant along the demand curve