The demand curve is inelastic if the absolute value of the elasticity is: Group of answer choices greater than 1. greater than 0. less than 1. equal to 1.

Abigail spent $100 on a new edition of the personal finance textbook rather than $75 for a used copy. the additional cost for the new copy is called the

Identify which of the twelve basic functions listed below fit the description given.

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.