ECO 204 CHAPTER 5 FINAL (Micro_TIF1_9e_Chapter05)

Refer to Figure 5.1. The demand for tickets is

A)



perfectly price elastic.

B)



perfectly price inelastic.

C)



unit price elastic.

D)



perfectly income inelastic.

Answer: 



B

Diff: 1

Topic: 



Price Elasticity of Demand

Skill:  



Fact

2)



Demand determines price entirely when

A)



demand is downward sloping.

B)



demand is perfectly inelastic.

C)

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