Multiple Choice
A fall in the price of a good from $11.50 to $8.50 results in an increase in the quantity demanded from 19,200 to 20,800 units. The price elasticity of demand is
A) 0.27.
B) 3.75.
C) 0.08.
D) 8.0.
E) 30.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q78: Goods that can be produced using rare
Q99: All normal goods have<br>A)an income elasticity of
Q125: Demand is unit elastic when<br>A)an increase in
Q131: The income elasticity of demand equals the
Q133: If the quantity of carrots demanded increases
Q135: Use the table below to answer the
Q136: The quantity of apples demanded decreases by
Q137: If Mr. Brown's income increases by 12
Q140: Suppose a rise of 8 percent in
Q140: Long-run supply is<br>A)more elastic than momentary supply