If price tails from $100 to $99 and quantity demanded rises from 2 to 3, the dem

Question

If price tails from $100 to $99 and quantity demanded rises from 2 to 3, the demand is 0.03 1.75 25.7 39.8 The curve in the above graph is a perfectly elastic demand curve. is a perfectly inelastic demand curve, is a very elastic demand curve. is a very inelastic demand curve. Assume that demand is elastic. Of the elasticities shown here, which is the lowest that would still he considered elastic? 0.0 1.01 1.00 0.01 If a car dealership decides to offer a rebate to reduce the selling Price of its cars and as a result finds an increase in its total revenues, then the demand for cars from this dealership is price elastic. price inclastic. rebate inelastic. unit elastic. unknown.

Explanation / Answer

6) It is A) 0.03

7)It is B) a perfectly inelastic demand curve

8) It is C) 1.00

9)It is D) Unit elastic

By,

Nishant Bhatt

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