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Elasticity quiz
Five questions on Elasticity. Answer all 5 to see your score. Questions are drawn from a bank of 15, so every attempt is different.
Question 1 of 5
Price elasticity of demand is calculated as:
Question 2 of 5
A 10% price rise reduces quantity demanded by 5%. Elasticity is:
Question 3 of 5
Demand is elastic when elasticity is:
Question 4 of 5
Which good likely has the most elastic demand?
Question 5 of 5
If demand is inelastic, a price increase will: