elasticity

Which is more elastic? Shoes in general or Light up shoes?

Light up shoes

In general, in order for a price INCREASE to cause an INCREASE in total revenue, demand must be

Elastic

In general, in order for a price INCREASE to cause a DECREASE in total revenue, demand must be

Elastic

The value of the price elasticity of demand is equal to the slope of the demand curve

False

Suppose the price of bikes is currently $90 per bike, shown as point A on the initial graph. Because the demand between points A and B is ELASTIC, a $15-per-bike decrease in price will lead to an _______ in total revenue per day.

Increase

Which is more elastic? Strawberries or fruit in general?

Strawberries

Which is more elastic? Subway rides within the next 6 months or Subway rides within the next 5 years

Subway rides within the next 5 years

Which is more elastic? Vanilla Ice Cream or desserts

Vanilla Ice Cream