Start typing, then use the up and down aroows to select an option from the list.
Microeconomics
Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors
Elasticity
Elasticity Summary
Everything elasticity, all in one place!
1
concept
Elasticity Summary
4m
Play a video:
2
Problem
A linear, downward-sloping demand curve is
A
Inelastic
B
Unit Elastic
C
Elastic
D
Inelastic at some points, and elastic at others
3
Problem
An increase in the supply of a good will increase the total revenue producers receive if:
A
The demand curve is inelastic
B
The demand curve is elastic
C
The supply curve is inelastic
D
The supply curve is elastic
4
Problem
A life-saving machine without any close substitutes will tend to have:
A
A small price elasticity of demand
B
A large price elasticity of demand
C
A small price elasticity of supply
D
A large price elasticity of supply