11 If the price elasticity of demand is greater than 1, then consumer demand is

Question

11 If the price elasticity of demand is greater than 1, then consumer demand is Question 11 options: unrelated to the elasticity of demand. unitary elastic. inelastic. elastic.

Question 12 Unsaved If the price elasticity of demand is less than 1, then consumer demand is Question 12 options: unitary elastic. elastic. unrelated to the elasticity of demand. inelastic.

13 The price elasticity of demand for labor equals

Question 13 options:

the percentage change in the quantity demanded of labor divided by the percentage change in the price of labor.

the percentage change in the price of labor divided by the percentage change in the supply of labor.

the slope of the demand curve for labor. the change in the quantity demanded of labor divided by the change in the price of labor. Save

Explanation / Answer

11. Elastic ( e > 1)

12. Inelastic (e<1)

13. the percentage change in the quantity demanded of labor divided by the percentage change in the price of labor.

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.