When the price of a commodity drops, consumers’ expenditure on it decreases as well. It shows that this commodity is （ ）.
A: elastic
B: unitary elastic
C: inelastic
D: all of the above are possible
A: elastic
B: unitary elastic
C: inelastic
D: all of the above are possible
举一反三
- 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
- If all other conditions remain the same, when the price of the Y commodity substitute Y commodity rises, the demand for X commodity will A: increase B: reduce C: unchanged D: difficult to determine
- 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
- When the production of a commodity does not utilize imported inputs, the effective tariff rate on the commodity:（ ） A: Exceeds the nominal tariff rate on the commodity B: Equals the nominal tariff rate on the commodity C: Is less than the nominal tariff rate on the commodity D: None of the above
- The ratio of one commodity price to the price of another commodity is called relative commodity price.（ ） A: 对 B: 错