If the price elasticity of demand for a good is greater than one, then the demand for that good is: A.perfectly elastic. B.unit elastic. C.elastic. D.inelastic. 正确答案：elastic.

The demand for a good is inelastic with respect to price if the price elasticity of demand is: A.equal to one. B.less than one. C.equal to negative one. D.greater than one. 正确答案：less than one.

The demand for a good is unit elastic with respect to price if the price elasticity of demand is: A.less than one. B.greater than negative one. C.equal to one. D.greater than one. 正确答案：equal to one.

If the price elasticity of demand for a good equals one, then the demand for that good is: A.perfectly elastic. B.inelastic. C.elastic. D.unit elastic. 正确答案：unit elastic.

When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are sold every day. At the original price, what is the price elasticity of demand for hot dogs? A.0.2 B.2 C.5 D.66.67 正确答案：0.2

When the price of NBA tickets is $25 each, 30,000 tickets are sold. After the price rises to $30 each, 20,000 tickets are sold. At the original price, the demand for NBA ticket is: A.unit elastic. B.inelastic. C.perfectly elastic. D.elastic. 正确答案：elastic.

If the percentage change in the price of a good is less than the resulting percentage change in the quantity demanded of that good, then the demand for that good is: A.unit elastic. B.elastic. C.inelastic. D.perfectly inelastic. 正确答案：elastic.

If consumers respond to a 10% price reduction by buying twice as much of a particular good, we would conclude that: A.the price elasticity of demand at the original price was greater than one. B.there was excess demand at the original price. C.there was excess supply at the origi … 阅读详情>> "If consumers respond to a 10% price reduction by buying twice as much of a particular good, we would conclude that:"

Suppose a 10% increase in the price of aspirin leads to a 5% decrease in the quantity demanded of aspirin. The demand for aspirin, therefore, is A.elastic. B.inelastic. C.perfectly inelastic. D.unit elastic. 正确答案：inelastic.

If the percentage change in the price of a good is equal to the percentage change in the quantity demanded of that good, then the demand for that good is: A.inelastic. B.elastic. C.unit elastic. D.perfectly elastic. 正确答案：unit elastic.

If the demand for a good is highly elastic, that good is likely to have: A.few close complements. B.few close substitutes. C.many close complements. D.many close substitutes. 正确答案：many close substitutes.

If consumers can easily switch to a close substitute when the price of a good increases, demand for that good is likely to be: A.perfectly inelastic. B.elastic. C.unit elastic. D.inelastic. 正确答案：elastic.