Unformatted text preview: l Date: 10515509
1mg: 12:21 PM W Milt the price elasticity coefﬁcient is one. ' 2: the price elasticity coefﬁcient is at a is the 'ce elasticity coefﬁcient is at a
P“ t) Student: * Instructor: kolﬂtoom alkofalti Assignment: Hw CH6-l Comso: Eco 2301-05
Book: Hubbard-’O'Brien: Microeconomics
2e l 3. Refer to the diagram to the right. At the
midpoint of the demand curve, in absolute value, maximum. minimum. Price the price elasticity coefﬁcient is zero. Quantity l4. Which ot‘the following statements is true about the price elasticity ol‘demand along a downward
sloping linear demand curve? It is inelastic at high prices and elastic at low prices.
f It is perfectly elastic at very high prices and perfectly inelastic at very low prices. It is unit elastic throughout the demand curve. V . It is elastic at high prices and inelastic at low prices
15, Which of the following products comes closest to having a perfectly price inelastic demand?
V cholesterol medication in general ...
View Full Document
- Fall '08
- dont know