Marvin loves chocolate truffles. As the price of a chocolate truffle increases from $1 to $2 to $3, Marvin continues to buy a dozen chocolate truffles every week. Marvin's demand for chocolate truffles is ________.
A: elastic
B: unit elastic
C: illustrated by a horizontal demand curve
D: perfectly inelastic
A: elastic
B: unit elastic
C: illustrated by a horizontal demand curve
D: perfectly inelastic
举一反三
- 翻译句子 Now, they market chocolate and white chocolate for every Valentine's Day.
- chocolate truffle 是指下列哪种甜品？
- When supply is perfectly elastic, changes in demand have no effect on price
- To maximize profit, the monopolist produces on the ________ portion of the demand curve where ________. A: elastic; price equals marginal cost B: elastic; marginal revenue equals marginal cost C: inelastic; price equals marginal revenue D: inelastic; marginal revenue equals marginal cost
- If the price of a commodity changes by 3% and the quantity supplied<br/>changes by 2%, the supply of the commodity ( ) A: inelastic B: elastic C: unit elastic D: completely inelastic