• Card 9 / 47: Demand is said to be inelastic when:
    A) the percentage change in quantity demanded is greater than the percentage change in price of a good
    B) in a linear demand curve, quantity demanded is close to zero (given the price) so that the percentage change in quantity demanded will be very high
    C) the percentage change in price exceeds the percentage change in quantity demanded of a good
    D) a relatively small change in price results in a relatively big change in quantity demanded

    Answer:
    C) the percentage change in price exceeds the percentage change in quantity demanded of a good

  • Keyboard Shortcuts

    Previous Card ← Previous Card Button
    Next Card → Next Card Button
    Flip Card Space-Bar
<< First < Previous Next > Last >>

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now
Hide Choices Interactive Question Test Home Page
https://www.jobilize.com/microeconomics-practice-multiple-choice-questions-mcq-test-by-prof

Microeconomics Practice MCQ

Author:

Access: Public Instant Grading

Attribution:  Levy, Frank. 11.203 Microeconomics, Fall 2010. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-203-microeconomics-fall-2010 (Accessed 13 Mar, 2014). License: Creative Commons BY-NC-SA
Flash Cards plugin by Curtis Blackwell github.com/curtisblackwell/flash_cards
Google Play and the Google Play logo are trademarks of Google Inc.
Ask
Dionne Mahaffey
Start Quiz
Copy and paste the following HTML code into your website or blog.
<iframe src="https://www.jobilize.com/embed/microeconomics-practice-multiple-choice-questions-mcq-test-by-prof" width="600" height="600" frameborder="0" marginwidth="0" marginheight="0" scrolling="yes" style="border:1px solid #CCC; border-width:1px 1px 0; margin-bottom:5px" allowfullscreen webkitallowfullscreen mozallowfullscreen> </iframe>