Question

Ch423

11題I和II為什麼不對

11. Consider the following statements when answering this question.
I. If no consumer has a kinked demand curve for CDs, then the market demand
curve for CDs cannot be kinked either.
II. If at a price of $10, every consumer has inelastic demand, then at that price the
market demand for CDs will be inelastic too.
I ,
(C) I is false, and II is true. (D) I and II are false.
(A) I and II are true. (B) I is true, and II is false.
IDI 12. Good A is a Giffen good. If the price of good A were to suddenly double, the income
effect would cause the purchases of good A to increase by
(A) more than double. (B) exactly double
(C) less than double.

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