If a 1% Increase in the Price of DVD Players

question 55

Multiple Choice

If a 1% increase in the price of DVD players leads to a 3% reduction in its sales, we can conclude that:

• A)the supply of DVD players is perfectly inelastic.
• B)DVD players are inferior goods.
• C)the demand for DVD players is relatively elastic.
• D)the demand for DVD's is relatively inelastic.

---

Definitions:

Remove

To delete or take something away from its previous location or context.

Web Notes

Annotations or comments made directly on web pages for the purpose of personal reference or to share insights with others in a collaborative manner.

Favorites

A feature in web browsers and other software allowing users to save and quickly access frequently visited URLs or important documents.

Reading List

A compilation of books, articles, or other written materials recommended or planned for reading.