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5.1B Elasticity Review

Posljednje ažuriranje about 3 years ago

6

1

Pitanje 1

1.

In regular human everyday language, what is elasticity again?

1

Pitanje 2

2.

What kind of elasticity is shown here for supply?

1

Pitanje 3

3.

1

Pitanje 4

4.

In plain language, what does it mean when elasticity is greater than 1?

1

Pitanje 5

5.

When price changes a little bit...

flat line.

quantity demanded changes very little.

Quantity demanded changes A LOT!!!

1

Pitanje 6

6.

In these scenarios, when price changes...

quantity demanded does not change a lot in comparison.

please! No more, Mr. Joo.