ECON 201 (ECON 201)
West Virgina University
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ECON 201 EXAM 2 WITH 100% SOLUTION
- Exam (elaborations) • 17 pages • 2021
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ECON 201 EXAM 2 WITH 100% SOLUTION 
1.	In which of these instances is demand said to be perfectly inelastic? 
 
a.	A decrease in price of 2% causes a decrease in total revenue of 0%. 
 
b.	An increase in price of 2% causes a decrease in quantity demanded of 2%. c. A decrease in price of 2% causes an increase in quantity demanded of 0%. 
d. An increase in price of 2% causes a decrease in quantity demanded of 1/2%. 
 
 
2.	Hilda’s Hair Hysteria earned $3,750 in total revenue last month when it ...
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