Question 13
MediumOriginal questionA 5% fall in price leaves quantity demanded unchanged. What is eₚ?
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
% change in quantity = 0, so eₚ = 0 ÷ 5 = 0: perfectly inelastic.
- Concept
- Zero elasticity
- Typical timeTypical
- 70 s
- Your timeYours
- —
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