37.Which of the following is a possible measurement of inelastic demand? 1.0 2.3

ID: 1226467 • Letter: 3

Question

37.Which of the following is a possible measurement of inelastic demand?

1.0

2.3

1.5

0.7

41. When people choose leisure over work as wages rise, they are indicating that:

a. the substitution effect is stronger than the income effect.

b. the income effect is stronger than the substitution effect.

c. they are more lazy and are avoiding risk.

d. wages are too high for their skill level.

42. Which of the following occurs in the long run?

A restaurant hires another server.

A new movie theater is built.

An aircraft company adds another shift.

A grocery store expands its hours of operation.

37)

0.7 is answer

inelastic demand means when 1% change in price results in lower than 1% change in quantity demanded which means value lower than 1.

we do only first question as per Chegg policy.

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