Multiple Choice— Select the option that best completes the sentence or provides the answer to the question.
- The increase in demand would cause supply to:
- Which of the following would not produce a shift in the demand curve for apple juice?
- The price elasticity of demand is equal to - 4. It means that
- You can figure out whether demand is elastic or inelastic by observing
- Assume the demand curve for compact discs slopes downwards, and the supply curve slopes upwards. If the price of CD players decreases, then:
- If the slope of the demand curve is -0.167, price is $8 and quantity demanded 12 units, then demand for this good is
- Producer surplus is the
- The value of price elasticity of demand:
- A horizontal demand curve has a price elasticity (in absolute value) of
- Demand for a good is likely to be more elastic: