--%>
Assignment Help - homework help

Relatively price inelasticity of demand

When cuts into the price of cowboy hats drive down total revenues to hat makers, in that case demand: (1) relatively price elastic. (2) relatively price inelastic. (3) unitarily price elastic. (4) infinitely price elastic. (5) zero price elastic.

Hey friends please give your opinion for the problem of Economic that is given above.

   Related Questions in Microeconomics

  • Q : Measures of Poverty Line The poverty

    The poverty line is: (1) about $15000/year for a family of two in 2006. (2) an index which varies depending on family characteristics. (3) dependent only on the size and income of a family. (4) about $12500/year for a family of four in 2006. (5) the p

    		•
  • Q : Hicks Model of Bargaining The John

    The John Hick’s bargaining model recommends that the union wage demands and a firm's wage provide: (i) Might be so distinct that the management hires scabs. (ii) Are non-negotiable in the competitive environment. (iii) Become identical as the du

    		•
  • Q : Problem on Agency Shop Agreements Can

    Can someone please help me in finding out the accurate answer from the following question. Needs for all the workers to pay union dues or the equivalent are features of collective bargaining agreements that firms will function: (1) An open shop. (2) A closed shop. (3)

    		•
  • Q : Perfect Equality of Income Distribution

    A Lorenz curve which is identical to a 45 degree line by the origin indicates as: (w) perfect equality of income distribution. (x) complete inequality of income distribution. (y) unitarily elastic supplies of labor. (z) which poverty is prevalent.

    		•
  • Q : Difference among change in

    The difference between change in supply and change in quantity supplied is as follows: (1) The change in quantity supplied is caused just by the change in the price of good, whereas a change in supply takes place whenever the ceteris paribus suppositi

    		•
  • Q : Industrial Unions-organizing workers

    Can someone help me in finding out the right answer from the given options. Industrial unions are proposed to organize all the workers in: (i) A specific company. (ii) The United States. (iii) Particular skill or the craft. (iv) Particular occupation. (v) Specific ind

    		•
  • Q : Higher prices of good-Substitution The

    The demand for Toyota Corollas will rise in response to: (i) Higher prices for Honda Civics. (ii) The decrease in price of steel. (iii) Honda offering enormous discounts to probable buyers. (iv) Technological progress for designing a car. (v) Higher safety ratings for

    		•
  • Q : More willing to hold less cash and more

    When households become more willing to hold less cash and more stocks or bonds, in that case the: (1) level of Aggregate Demand increases. (2) present value of future income falls. (3) interest rate falls. (4) stock market will crash.

    		•
  • Q : Pure competitors in the market structure

    Marginal revenue is not below the market price by the perspectives of simply: (i) monopolistic competitors. (ii) monopolists. (iii) cartel members. (iv) pure oligopolists. (v) pure competitors. Can

    		•
  • Q : Definition of Consumer Surplus The

    The difference among the price a consumer would have been eager to pay for the commodity and the price consumer really has to pay is termed as: (i) Gain. (ii) The substitution effect. (iii) The income effect. (iv) Consumer surplus.