Stack #4089637
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| cross-price elasticity of demand | show 🗑
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| income elasticity of demand | show 🗑
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| unit-elastic supply curve | show 🗑
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| inelastic supply | show 🗑
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| unit-elastic supply | show 🗑
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| elastic supply | show 🗑
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| show | A horizontal line, which means that any price decrease drops the quantity supplied to zero; the elasticity value is infinity
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| perfectly inelastic supply curve | show 🗑
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| show | Measures the responsiveness of quantity supplied to a price change; the percentage change in quantity supplied divided by the percentage change in price
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| perfectly inelastic demand curve | show 🗑
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| unit-elastic demand curve | show 🗑
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| constant-elasticity demand curve | show 🗑
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| perfectly elastic demand curve | show 🗑
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| show | Measures
how responsive quantity demanded is to a price change; the percentage change in quantity demanded divided by the percentage change in price
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| show | A change in price has relatively little effect on quantity demanded; the percentage change in quantity demanded is less than the percentage change in price; the resulting price elasticity has an absolute value less than 1.0
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| unit-elastic demand | show 🗑
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| elastic demand | show 🗑
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| total revenue | show 🗑
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| show | A straight-line demand curve; such a demand curve has a constant slope but usually has a varying price elasticity
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Created by:
user-1794339