Elasticity of demand and supply

Question 1 of 10

The supply of fresh tomatoes is usually inelastic in the short run because

Question 2 of 10

Demand for necessities such as salt is usually

Question 3 of 10

Price elasticity of supply measures

Question 4 of 10

If PED = 1, demand is

Question 5 of 10

Demand for salt is likely to be

Question 6 of 10

Price falls from GH¢8 to GH¢6 and quantity rises from 40 to 60. PED (point method from initial values) is

Question 7 of 10

An inferior good has an income elasticity of demand that is

Question 8 of 10

The price of a good rises from GH¢10 to GH¢12, and quantity demanded falls from 100 to 80. What is the price elasticity of demand?

Question 9 of 10

If PED is 0.4, a 10% price rise reduces quantity demanded by

Question 10 of 10

Two goods with a positive cross elasticity of demand are