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Question 6 1 pts A bicycle demand curve is the bicycle demand schedule. the upward-sloping curve relating income with the quantity of bicycle demanded. the
Question 6 1 pts A bicycle demand curve is the bicycle demand schedule. the upward-sloping curve relating income with the quantity of bicycle demanded. the downward-sloping curve showing the quantity of bicycle demanded at various years. the downward-sloping curve relating bicycle price with the quantity of bicycle demanded. Question 9 When we move up or down a given ice cream demand curve only price of ice cream is held constant. all determinants of ice cream demand, except ice cream price, are assumed to be constant. all determinants of ice cream demand are assumed to be constant. ' nothing is assumed to be constant. Question 15 1 pts The key determinants of the price elasticity of demand for a product are O availability of close substitute, income, technology, time. O price, time, income, technology. O market definition, quantity demanded, price, and income. O availability of close substitute, necessities, definition of the market, time horizon.Question 16 1 pts When demand is elastic the price elasticity is greater than 1, and price and total revenue will move in opposite directions. less than 1, and price and total revenue will move in the same direction. less than 1, and price and total revenue will move in opposite directions. greater than 1, and price and total revenue will move in the same direction
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