Multiple Choice
Suppose the quantity of gasoline is measured in gallons and the price of gasoline is measured in dollars. The price elasticity of demand is 0.67. If the price of gasoline was now measured in cents rather than dollars, the price elasticity of demand would now be
A) 0.0067.
B) 0.67.
C) 6.7.
D) 67.0.
Correct Answer:
Verified
Correct Answer:
Verified
Q156: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure illustrates
Q157: The price elasticity of demand for a
Q158: If the elasticity of supply of a
Q159: The demand for Honda Accords is probably<br>A)
Q160: Explain why the availability of resources affects
Q162: If the elasticity of demand for peaches
Q163: The larger the portion of a person's
Q164: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q165: In 2012, Canadian farmers did not suffer
Q166: "The Department of Agriculture came out today