# Question 33 2 pts if the demand curve for a product

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Question 332 ptsIf the demand curve for a product is almost horizontal, the product is what?Constantly elasticPerfectly elasticPerfectly inelasticUnitary elastic
Question 342 ptsWhat term refers to how a change in price impacts quantity demanded?
Question 352 pts
Which of the following determines the sensitivity that changes in the annual income ofconsumers have on the quantity demanded for a product?
Question 362 ptsWhich of the following are types of variable in measuring elasticity?
Question 372 ptsIf the product's income elasticity is greater than zero, then the good is categorized as which of thefollowing?ComplementElasticInferiorNormal
Question 382 ptsWhich category of price elasticity occurs when the coefficient of elasticity has absolute valuesgreater than one?
Question 392 ptsHow is elasticity of demand measured?
Question 402 ptsWhich of the following measures the elasticity of the function at a specific value?
Point elasticityPrice elasticityQuestion 412 ptsIf 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 elasticityThe supply is approaching perfect inelasticityThe supply is approaching unit elasticity
Question 422 ptsAt the elastic points on the demand curve, how is total revenue influenced by a decrease in price?
Question 432 ptsAt the unit elasticity point on the demand curve, how is total revenue influenced by a decrease inprice?
Question 442 ptsHow is cross elasticity of demand calculated?
Question 452 ptsIf you multiply 0.99 times 1.01, you will get 1.TrueFalse
Question 462 ptsWhat term looks at how a price change in one good would influence the quantity demanded inanother good?
Question 472 ptsAt the inelastic points on the demand curve, how is total revenue influenced by a decrease inprice?
Question 482 ptsIf elasticity of demand is less than 1,a 1% drop in price would result in which of the following?
Question 492 ptsIf an airline increased ticket prices from \$1000 to \$1050, what is the percentage of change inprice?About 0.05%About 1.05%About 4.9%5%
Question 502 ptsIf an airline's quantity demanded on a flight increased from 200 to 400, what would be thepercentage of change in the demand?
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Air Transport Economics, Aviation economics, AVSC 2090, UVU Fall 2017, UVU AVSC 2090, UVU AVSC Pogue, Avsc 2090 Exam 1
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