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Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary

Question

The relationship among **own-price elasticity of demand**, changes in price, and changes in **total expenditure** is as follows:

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in**[...]** ;

if demand is unitary elastic, a change in price**[...]**

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in

if demand is unitary elastic, a change in price

Answer

increase in total expenditure

a decrease in total expenditure

leaves total expenditure unchanged.

a decrease in total expenditure

leaves total expenditure unchanged.

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary

Question

The relationship among **own-price elasticity of demand**, changes in price, and changes in **total expenditure** is as follows:

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in**[...]** ;

if demand is unitary elastic, a change in price**[...]**

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in

if demand is unitary elastic, a change in price

Answer

?

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4 #summary

Question

The relationship among **own-price elasticity of demand**, changes in price, and changes in **total expenditure** is as follows:

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in**[...]** ;

if demand is unitary elastic, a change in price**[...]**

If demand is elastic, a reduction in price results in an [...];

if demand is inelastic, a reduction in price results in

if demand is unitary elastic, a change in price

Answer

increase in total expenditure

a decrease in total expenditure

leaves total expenditure unchanged.

a decrease in total expenditure

leaves total expenditure unchanged.

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#### Parent (intermediate) annotation

**Open it**

The relationship among own-price elasticity of demand, changes in price, and changes in total expenditure is as follows: If demand is elastic, a reduction in price results in an increase in total expenditure; if demand is inelastic, a reduction in price results in a decrease in total expenditure; if demand is unitary elastic, a change in price leaves total expenditure unchanged.</spa

#### Original toplevel document

**SUMMARY**

ood causes an increase in demand for the other good—are called complements. Goods with positive cross-price elasticity of demand—a drop in the price of one good causes a decrease in demand for the other—are called substitutes. <span>The relationship among own-price elasticity of demand, changes in price, and changes in total expenditure is as follows: If demand is elastic, a reduction in price results in an increase in total expenditure; if demand is inelastic, a reduction in price results in a decrease in total expenditure; if demand is unitary elastic, a change in price leaves total expenditure unchanged. <span><body><html>

The relationship among own-price elasticity of demand, changes in price, and changes in total expenditure is as follows: If demand is elastic, a reduction in price results in an increase in total expenditure; if demand is inelastic, a reduction in price results in a decrease in total expenditure; if demand is unitary elastic, a change in price leaves total expenditure unchanged.</spa

ood causes an increase in demand for the other good—are called complements. Goods with positive cross-price elasticity of demand—a drop in the price of one good causes a decrease in demand for the other—are called substitutes. <span>The relationship among own-price elasticity of demand, changes in price, and changes in total expenditure is as follows: If demand is elastic, a reduction in price results in an increase in total expenditure; if demand is inelastic, a reduction in price results in a decrease in total expenditure; if demand is unitary elastic, a change in price leaves total expenditure unchanged. <span><body><html>

status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
---|---|---|---|---|---|---|---|

repetition number in this series | 0 | memorised on | scheduled repetition | ||||

scheduled repetition interval | last repetition or drill |

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