Answers2102320-Economics HONORS - Edgenuity TeacherElasticity and Incentives

Elasticity and Incentives Answers

12 verified answers3 views
1
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X inelasticelastic

A
inelastic
B
elastic
2
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✔ inelasticelastic

A
inelastic
B
elastic
3

inelasticX elastic

A
inelastic
B
elastic
4

✔ basic food an mp3 player a nice suit

A
basic food
B
an mp3 player
C
a nice suit
D
Option
5

price floorprice ceilingequilibrium price

A
price floor
B
price ceiling
C
equilibrium price
6

Big City has a price ceiling of $750 on rent.

Answers:
The price ceiling means there will be in the supply of rental spaces.:a shortage
Landlords will not raise rent prices as demand increases because they .:are not allowed to
According to the graph, rent would stabilize at if the price ceiling did not exist.:$1,000
7

a big TV a place to liveX medicine

A
a big TV
B
a place to live
C
medicine
8

price floorprice ceilingequilibrium price

A
price floor
B
price ceiling
C
equilibrium price
9

✔ are not allowed to would make less profitX want fewer tenants

A
✔ are not allowed to
B
would make less profit
C
X want fewer tenants
10

more than before less than before✔ about the same amount

A
more than before
B
less than before
C
about the same amount
11

excess supplyexcess demand

A
excess supply
B
excess demand
12

$500✔ $1,000 $1,500

A
$500
B
✔ $1,000
C
$1,500

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