Question 33 2 pts if the demand curve for a product

Question 33 2 pts
If the demand curve for a product is almost horizontal, the product is what?
Constantly elastic
Perfectly elastic
Perfectly inelastic
Unitary elastic
Question 34 2 pts
What term refers to how a change in price impacts quantity demanded?
Question 35 2 pts

Which of the following determines the sensitivity that changes in the annual income of
consumers have on the quantity demanded for a product?
Question 36 2 pts
Which of the following are types of variable in measuring elasticity?
Question 37 2 pts
If the product's income elasticity is greater than zero, then the good is categorized as which of the
following?
Complement
Elastic
Inferior
Normal
Question 38 2 pts
Which category of price elasticity occurs when the coefficient of elasticity has absolute values
greater than one?
Question 39 2 pts
How is elasticity of demand measured?
Question 40 2 pts
Which of the following measures the elasticity of the function at a specific value?

Point elasticity
Price elasticity
Question 41 2 pts
If there is a very large change in quantity supplied as a result of a very small change in price,
which of the following is true?
The supply is approaching perfect elasticity
The supply is approaching perfect inelasticity
The supply is approaching unit elasticity
Question 42 2 pts
At the elastic points on the demand curve, how is total revenue influenced by a decrease in price?
Question 43 2 pts
At the unit elasticity point on the demand curve, how is total revenue influenced by a decrease in
price?
Question 44 2 pts
How is cross elasticity of demand calculated?
Question 45 2 pts
If you multiply 0.99 times 1.01, you will get 1.
True
False
Question 46 2 pts
What term looks at how a price change in one good would influence the quantity demanded in
another good?

Question 47 2 pts
At the inelastic points on the demand curve, how is total revenue influenced by a decrease in
price?
Question 48 2 pts
If elasticity of demand is less than 1,a 1% drop in price would result in which of the following?
Question 49 2 pts
If an airline increased ticket prices from $1000 to $1050, what is the percentage of change in
price?
About 0.05%
About 1.05%
About 4.9%
5%
Question 50 2 pts
If an airline's quantity demanded on a flight increased from 200 to 400, what would be the
percentage of change in the demand?