The demand for movies is unit elastic if Select one: a. any increase in the price...

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The demand for movies is unit elastic if Select one: a. any increase in the price leads to a 1 percent decrease in the quantity demanded. b. a 5 percent decrease in the price leads to an infinite increase in the quantity demanded. c. a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded. d. a 5 percent increase in the price leads to a 5 percent increase in total revenue. If demand is price elastic Select one: a. a 1 percent decrease in the price leads to an increase in the quantity demanded that exceeds 1 percent. b. the price is very sensitive to any shift of the supply curve. c. a 1 percent increase in the price leads to an increase in the quantity demanded that exceeds 1 percent. d. a 1 percent decrease in the price leads to a decrease in the quantity demanded that is less than 1 percent. The price will rise and the equilibrium quantity might increase, decrease, or stay the same when the Select one: a. demand for a good increases and the supply of it decreases. b. demand and the supply of a good both decrease. c. demand for a good decreases and the supply of it increases. d. demand and the supply of a good both increase. The demand for movies is unit elastic if Select one: a. any increase in the price leads to a 1 percent decrease in the quantity demanded. b. a 5 percent decrease in the price leads to an infinite increase in the quantity demanded. c. a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded. d. a 5 percent increase in the price leads to a 5 percent increase in total revenue. If demand is price elastic Select one: a. a 1 percent decrease in the price leads to an increase in the quantity demanded that exceeds 1 percent. b. the price is very sensitive to any shift of the supply curve. c. a 1 percent increase in the price leads to an increase in the quantity demanded that exceeds 1 percent. d. a 1 percent decrease in the price leads to a decrease in the quantity demanded that is less than 1 percent. The price will rise and the equilibrium quantity might increase, decrease, or stay the same when the Select one: a. demand for a good increases and the supply of it decreases. b. demand and the supply of a good both decrease. c. demand for a good decreases and the supply of it increases. d. demand and the supply of a good both increase.

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c a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded Unit elas... View the full answer