If the demand for a good is elastic, then 相关知识点: 试题来源: 解析 people substantially decrease the quantity of the good they buy if its price increases by a small percentage. 答案解析: 1. I often come by bike. 这句话描述了“我”经常骑自行车出行。 2. I usually come to school by...
C is correct. The longer the time that has elapsed since a price change, the more elastic demand is. For example, if gas prices rise, consumers cannot quickly change their mode of transportation but will likely do so in the longer run.反馈...
If the demand for a good is elastic, then a(n)A. decrease in price will increase total revenue.B. decrease in price will decrease total revenue.C. increase in price will have no effect on total revenue.D. increase in price will increase total revenue. 正确答案:A 分享到: 答案解析: ...
Definition:Elastic demand is an economic concept that occurs when the quantity of a product responds intensively to a change in the price of the product. What Does Elastic Demand Mean? Contents[show] What is the definition of elastic demand?According to thelaw of demand, when the price of a...
Definition:A perfectly elastic demand curve is represented by a straight horizontal line and shows that the marketdemandfor a product is directly tied to the price. In fact, the demand is infinite at a specific price. Thus, a change in price would eliminate all demand for the product. ...
Eastin and Gary L. Arbogast Section 4.2 The more time that has elapsed since a price change, the more elastic the demand. For example, if gas prices rise, consumers cannot quickly change their mode of transportation but will likely do so in the longer run....
A. an increase in its price results in an increase in total revenue. B. a decrease in its price results in a decrease in total revenue. C. an increase in its price results in a decrease in total revenue. D. the good is a necessity. ...
Elastic demand is the situation in which demand for a product or service is sensitive to price changes. Elastic demand is a major concern for a manufacturer that attempts to set a product’s price based on the product’s costs. For instance, if the manufacturer’s production and sales have...
Demand is considered* elastic. / 需求 (其实)是 心仪的橡皮筋 (—— 可松可紧)。✲ ...
Definition:Unit elastic demand is an economic theory that assumes a change in price will cause an equal proportional change in quantity demanded. Put simply unitary elastic describes ademandorsupplythat is perfectly responsive to price changes by the same percentage. You can think of it as a unit...