The upper portion of the kinked demand curve is relatively A.More inelastic B.More elastic C.Less elastic D.Inelastic

The upper portion of the kinked demand curve is relatively
A.More inelastic
B.More elastic
C.Less elastic
D.Inelastic
by

1 Answer

Answer :

B.More elastic
by

Related questions

A horizontal demand curve is - (1) relatively elastic (2) perfectly inelastic (3) perfectly elastic (4) of unitary elasticity

Description : A horizontal demand curve is - (1) relatively elastic (2) perfectly inelastic (3) perfectly elastic (4) of unitary elasticity

Last Answer : (3) perfectly elastic Explanation: The demand curve facing a perfectly competitive firm is flat or horizontal. This is because all firms in perfect competition are by definition selling an identical (homogeneous) ... of the curve is zero, it is impossible for the price to change in the market.

)When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be - (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Description : )When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be - (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Last Answer : (2) Inelastic Explanation: When the percentage change in quantity demanded is less than the percentage change in price, then the demand for the commodity is said to be inelastic. Price elasticity of demand refers to the degree of responsiveness of quantity demanded to change in price.

When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Description : When percentage change in demand for a commodity is less than percentage change in its price, then demand is said to be (1) Highly elastic (2) Inelastic (3) Relatively elastic (4) Perfectly inelastic

Last Answer : Inelastic

The bowed shape of the production possibilities curve illustrates: a. the law of increasing marginal cost b. that production is inefficient c. that production is unattainable d. the demand is relatively inelastic

Description : The bowed shape of the production possibilities curve illustrates: a. the law of increasing marginal cost b. that production is inefficient c. that production is unattainable d. the demand is relatively inelastic

Last Answer : a. the law of increasing marginal cost

The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic

Description : The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic

Last Answer : (4) perfectly elastic Explanation: A perfectly competitive industry is comprised of a. large number of relatively small firms that sell identical products. Each perfectly competitive firm is so small ... at the going market price. This translates into a horizontal or perfectly elastic demand curve.

If total revenue rises when price falls, the demand curve is (a) Elastic (b) Unitary elastic (c) Inelastic (d) None of the above

Description : If total revenue rises when price falls, the demand curve is (a) Elastic (b) Unitary elastic (c) Inelastic (d) None of the above

Last Answer : (a) Elastic

The demand curve facing a perfectly competitive firm is (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic

Description : The demand curve facing a perfectly competitive firm is (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic

Last Answer :  perfectly elastic

A horizontal demand curve is (1) ralatively elastic (2) perfectly inelastic (3) perfectly elastic (4) of unitary elasticity

Description : A horizontal demand curve is (1) ralatively elastic (2) perfectly inelastic (3) perfectly elastic (4) of unitary elasticity

Last Answer : perfectly elastic

If the consumption of a product can be postponed for the time being (a) The demand for the product will be inelastic (b) The demand for the product will be relatively elastic (c) The demand for the product will be perfectly elastic (d) The demand for the product will be perfectly inelastic

Description : If the consumption of a product can be postponed for the time being (a) The demand for the product will be inelastic (b) The demand for the product will be relatively elastic (c) The demand for the product will be perfectly elastic (d) The demand for the product will be perfectly inelastic

Last Answer : (b) The demand for the product will be relatively elastic 

Kinked demand curve is a feature of - (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly

Description : Kinked demand curve is a feature of - (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly

Last Answer : (2) Oligopoly Explanation: The kinked demand curve theory is an economic theory regarding oligopoly and monopolistic competition. Kinked demand was an initial attempt to explain sticky prices.

The kinked demand curve explains A.Price rigidity B.Price flexibility C.Demand rigidity D.Demand flexibility

Description : The kinked demand curve explains A.Price rigidity B.Price flexibility C.Demand rigidity D.Demand flexibility

Last Answer : A.Price rigidity

The kinked demand curve explains A.Price rigidity B.Price flexibility C.Demand rigidity D.Demand flexibility

Description : The kinked demand curve explains A.Price rigidity B.Price flexibility C.Demand rigidity D.Demand flexibility

Last Answer : A.Price rigidity

Kinked demand curve is a feature of (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly

Description : Kinked demand curve is a feature of (1) Monopoly (2) Oligopoly (3) Monopsony (4) Duopoly

Last Answer : Oligopoly

Economic rent does not arise when the supply of a factor unit is - (1) Perfectly inelastic (2) Perfectly elastic (3) Relatively elastic (4) Relatively inelastic

Description : Economic rent does not arise when the supply of a factor unit is - (1) Perfectly inelastic (2) Perfectly elastic (3) Relatively elastic (4) Relatively inelastic

Last Answer : (2) Perfectly elastic Explanation: Economic rent in the sense of surplus over transfer earnings arise when the supply of the factor units is less than perfectly elastic or not perfectly elastic. When ... , at a given price or remuneration, the entrepreneur can engage any number of factor units.

Elasticity (e) expressed by the formula 1 > e > 0 is - (1) Perfectly elastic (2) Relatively elastic (3) Perfectly inelastic (4) Relatively inelastic

Description : Elasticity (e) expressed by the formula 1 > e > 0 is - (1) Perfectly elastic (2) Relatively elastic (3) Perfectly inelastic (4) Relatively inelastic

Last Answer : (4) Relatively inelastic Explanation: Elasticity (e) expressed by the formula 1 > e > 0 is relatively inelastic. Elasticity is responsiveness of one variable to a change in another, when other conditions are held constant.

Elasticity (e) expressed by the formula l > e > 0 is (1) Perfectly elastic (2) Relatively elastic (3) Perfectly inelastic (4) Relatively inelastic

Description : Elasticity (e) expressed by the formula l > e > 0 is (1) Perfectly elastic (2) Relatively elastic (3) Perfectly inelastic (4) Relatively inelastic

Last Answer : Relatively inelastic

Economic rent does not arise when the supply of a factor unit is (1) Perfectly inelastic (2) Perfectly elastic (3) Relatively elastic (4) Relatively inelastic

Description : Economic rent does not arise when the supply of a factor unit is (1) Perfectly inelastic (2) Perfectly elastic (3) Relatively elastic (4) Relatively inelastic

Last Answer : Perfectly elastic

With what type of products would you expect demand to increase as price falls? A)Prestige products B)Products with elastic demand C)Products with inelastic demand D)Products with an inverted C -shaped demand curve

Description : With what type of products would you expect demand to increase as price falls? A)Prestige products B)Products with elastic demand C)Products with inelastic demand D)Products with an inverted shaped demand curve

Last Answer : D)Products with elastic demand

When marketers at The Honey Company tried to determine demand for their product, they found that at 50 pence, consumers wanted 2,000 jars; at £1.00, they wanted 6,000 jars; and at £1.50 they wanted 4,000 jars. What can the company conclude? A)Honey has a normal demand curve. B)It has an elastic product. C)It has an inelastic product. D)Honey is a prestige good.

Description : When marketers at The Honey Company tried to determine demand for their product, they found that at 50 pence, consumers wanted 2,000 jars; at £1.00, they wanted 6,000 jars; and at £1.50 they wanted 4, ... curve. B)It has an elastic product. C)It has an inelastic product. D)Honey is a prestige good.

Last Answer : D)Honey is a prestige good.

An increase in aggregate demand is more likely to lead to demand pull inflation (a) If aggregate supply is completely elastic (b) If aggregate supply is completely inelastic © If aggregate supply is unitary elastic (d) If aggregate supply is moderately elastic

Description : An increase in aggregate demand is more likely to lead to demand pull inflation (a) If aggregate supply is completely elastic (b) If aggregate supply is completely inelastic © If aggregate supply is unitary elastic (d) If aggregate supply is moderately elastic

Last Answer : (b) If aggregate supply is completely inelastic

The demand for necessities is - (1) elastic (2) perfectly inelastic (3) inelastic (4) perfectly elastic

Description : The demand for necessities is - (1) elastic (2) perfectly inelastic (3) inelastic (4) perfectly elastic

Last Answer : (2) perfectly inelastic Explanation: Inelastic demand means that if the price changes, the quantity demanded will not change much. The more necessary a good is, the lower the elasticity, as people ... it no matter the price. Necessities such as water are likely to have perfectly inelastic demand.

If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is - (1) perfectly inelastic (2) elastic (3) perfectly elastic (4) inelastic

Description : If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is - (1) perfectly inelastic (2) elastic (3) perfectly elastic (4) inelastic

Last Answer : (3) perfectly elastic Explanation: If quantity demanded changes by a very large percentage as a result of a tiny percentage change in price, then the demand is said to be perfectly elastic ... in this extreme case would be undefined but it approaches negative infinity as demand becomes more elastic.

In price discrimination, which section of the market is charged the higherprice?a. the section with the richest peopleb. the section with the oldest peoplec. the section with the most inelastic demandd. the section with the most elastic demand

Description : In price discrimination, which section of the market is charged the higherprice? a. the section with the richest people b. the section with the oldest people c. the section with the most inelastic demand d. the section with the most elastic demand

Last Answer : c. the section with the most inelastic demand

The demand for necessities is (1) elastic (2) perfectly inelastic (3) inelastic (4) perfectly elastic

Description : The demand for necessities is (1) elastic (2) perfectly inelastic (3) inelastic (4) perfectly elastic 

Last Answer : perfectly inelastic

If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is (1) perfectly inelastic (2) elastic (3) perlectly elastic (4) inelastic

Description : If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is (1) perfectly inelastic (2) elastic (3) perlectly elastic (4) inelastic

Last Answer : perlectly elastic

The bowed shape of the production possibilities curve illustrates. a) Law of Increasing Marginal Cost b) The production is inefficient c) The production is unattainable d) The demand is relatively elastic

Description : The bowed shape of the production possibilities curve illustrates. a) Law of Increasing Marginal Cost b) The production is inefficient c) The production is unattainable d) The demand is relatively elastic

Last Answer : Answer- a

If price of coffee falls leading to increase in total outlay on coffee, the demand of coffee is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Description : If price of coffee falls leading to increase in total outlay on coffee, the demand of coffee is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic 

Last Answer : (a) Elastic ;

If price of X falls leading to fall in total outlay on X, the demand of X is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Description : If price of X falls leading to fall in total outlay on X, the demand of X is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Last Answer : (b) Inelastic ;

If price of X falls leading to increase in total outlay on X, the demand of X is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Description : If price of X falls leading to increase in total outlay on X, the demand of X is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Last Answer : (a) Elastic ;

If price of sugar fills leading to fall in total outlay on sugar, the demand of sugar is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Description : If price of sugar fills leading to fall in total outlay on sugar, the demand of sugar is (a) Elastic ; (b) Inelastic ; (c) Unitary elastic ; (d) Less than unit elastic

Last Answer : (b) Inelastic ;

The policy that assumes that demand is relatively inelastic over certain price ranges is called A)price lining. B)odd -even pricing. C)price skimming. D)prestige pricing. E)customary pricing.

Description : The policy that assumes that demand is relatively inelastic over certain price ranges is called A)price lining. B)odd-even pricing. C)price skimming. D)prestige pricing. E)customary pricing.

Last Answer : A)price lining.

The demand for a product would be more inelastic: a. the greater is the time under consideration b. the greater is the number of substitutes available to buyers c. the less expensive is the product in relation to incomes d. all of the above Answers: D C D C A D C A C C

Description : The demand for a product would be more inelastic: a. the greater is the time under consideration b. the greater is the number of substitutes available to buyers c. the less expensive is the product in relation to incomes d. all of the above Answers: D C D C A D C A C C

Last Answer : c. the less expensive is the product in relation to incomes

The demand for a product would be more inelastic: a. the greater is the time under consideration b. the greater is the number of substitutes available to buyers c. the less expensive is the product in relation to incomes d. all of the above

Description : The demand for a product would be more inelastic: a. the greater is the time under consideration b. the greater is the number of substitutes available to buyers c. the less expensive is the product in relation to incomes d. all of the above

Last Answer : b. the greater is the number of substitutes available to buyers

Is the demand for higher education income elastic income inelastic or neither?

Description : Is the demand for higher education income elastic income inelastic or neither?

Last Answer : It is likely "income elastic" because the reverse is true: thenumber of people seeking higher education can decrease when thecost of that education goes up (unaffordable). So with ... applicants. This has definitely occurred duringperiods when government grants covered all or part of theexpense.

The demand for many industrial products for which a price increase or decrease will not significantly affect the demand is 1. elastic 2. inelastic 3. derived 4. joint 5. none of these

Description : The demand for many industrial products for which a price increase or decrease will not significantly affect the demand is 1. elastic 2. inelastic 3. derived 4. joint 5. none of these

Last Answer : inelastic

A penetration -pricing policy is particularly appropriate when demand is: A)increasing. B)highly elastic. C)highly inelastic. D)decreasing.

Description : A penetration-pricing policy is particularly appropriate when demand is: A)increasing. B)highly elastic. C)highly inelastic. D)decreasing.

Last Answer : B)highly elastic.

The demand for many industrial products for which a price increase or decrease will not significantly affect the demand is: A)elastic B)inelastic C)derived D)joint

Description : The demand for many industrial products for which a price increase or decrease will not significantly affect the demand is: A)elastic B)inelastic C)derived D)joint

Last Answer : B)inelastic

Any factor of production can earn economic-rent, when its supply will be - (1) Perfectly elastic (2) Perfectly inelastic (3) Elastic in nature (4) All of the above

Description : Any factor of production can earn economic-rent, when its supply will be - (1) Perfectly elastic (2) Perfectly inelastic (3) Elastic in nature (4) All of the above

Last Answer : (2) Perfectly inelastic Explanation: Economic rent is the revenue that can be earned from the land or other natural resource for which there is a fixed supply - as economists like to say, the supply ... inelastic, the amount of its supply does not depend on any income that the resource can produce.

Any factor of production can earn economic-rent, when its supply will be (1) Perfectly elastic (2) Perfectly inelastic (3) Elastic in nature (4) All of the above

Description : Any factor of production can earn economic-rent, when its supply will be (1) Perfectly elastic (2) Perfectly inelastic (3) Elastic in nature (4) All of the above

Last Answer : Perfectly inelastic

A unit price elastic demand curve will touch - (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis

Description : A unit price elastic demand curve will touch - (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis

Last Answer : (2) neither price axis, nor quantity axis Explanation: Unit elastic refers to an elasticity alternative in which any percentage change in price cause an equal percentage change in quantity. In other ... However, the unit price elastic demand curve does not touch either price axis or quantity axis.

If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust priceD.All of theseAnswer Repor

Description : If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust price D.All of these Answer Repor

Last Answer : A.Price taker

A unit price elastic demand curve will touch (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis

Description : A unit price elastic demand curve will touch (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis

Last Answer : neither price axis, nor quantity axis

If elasticity of demand is perfectly inelastic, then burden of tax will be on (a) Buyer (b) Seller (c) on both (a) and (b) (d) More on seller

Description : If elasticity of demand is perfectly inelastic, then burden of tax will be on (a) Buyer (b) Seller (c) on both (a) and (b) (d) More on seller

Last Answer : (a) Buyer

Very short period is the market condition where the supply remain perfectly (a) Elastic ; (b) Inelastic ; (c) Unity elastic ; (d) Elasticity less than 1

Description : Very short period is the market condition where the supply remain perfectly (a) Elastic ; (b) Inelastic ; (c) Unity elastic ; (d) Elasticity less than 1

Last Answer : (b) Inelastic ; 

Perfectly inelastic demand is equal to : (1) One (2) Infinite (3) Zero (4) Greater than one

Description : Perfectly inelastic demand is equal to : (1) One (2) Infinite (3) Zero (4) Greater than one

Last Answer : (3) Zero Explanation: Price Elasticity of Demand is a measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. It measures the responsiveness of ... to 0, demand is perfectly inelastic (i.e., demand does not change when price changes).

Perfectly inelastic demand is equal to : (1) One (2)Infinite (3) Zero (4)Greater than one

Description : Perfectly inelastic demand is equal to : (1) One (2)Infinite (3) Zero (4)Greater than one

Last Answer : Zero

The demand for cable television is relatively elastic, because if the price gets too high, people will rent DVDs or videos instead of watching cable. Who is likely to bear the incidence of a 10 percent tax on cable television?

Description : The demand for cable television is relatively elastic, because if the price gets too high, people will rent DVDs or videos instead of watching cable. Who is likely to bear the incidence of a 10 percent tax on cable television?

Last Answer : the producer

If the average revenue is a horizontal straight line, marginal revenue will be - (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Description : If the average revenue is a horizontal straight line, marginal revenue will be - (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Last Answer : (3) Identical with average revenue Explanation: The price of a good is also known as the Average Revenue of the firm. Average Revenue (AR) or Price and Marginal Revenue (MR) are identical. ... demand curve. Hence, the competitive demand curve is a horizontal straight line parallel to the OX axis.

If the average revenue is a horizontal straight line, marginal revenue will be (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Description : If the average revenue is a horizontal straight line, marginal revenue will be (1) U shaped (2) Kinked (3) Identical with average revenue (4) L shaped

Last Answer :  Identical with average revenue 

A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to - (1) Zero (2) One (3) Less than one (4) Infinity

Description : A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to - (1) Zero (2) One (3) Less than one (4) Infinity

Last Answer : (4) Infinity Explanation: Price elasticity of demand measures consumer response to price changes. If consumers are relatively sensitive to price changes, demand is elastic: if they are relatively ... keeps changing with the price. So the coefficient of price elasticity of demand is infinity.