Multiple Choice
Rania is selling boxes of cookies door to door in her neighbourhood.At a price of $10 per box she sold 40 boxes per day.When the price was reduced to $4 per box she sold 100 boxes per day.Assuming that the demand conditions were unchanged,what is the price elasticity of demand for Rania's cookies?
A) - 1.7
B) 0.85
C) 0
D) 1
E) 1.17
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Consider the income elasticity of demand for
Q3: The imposition of an excise tax usually
Q4: Suppose the cross elasticity of demand for
Q5: Suppose that the quantity demanded of a
Q6: The "economic incidence" of an excise tax
Q8: An upward- sloping straight- line supply curve
Q9: A perfectly horizontal demand curve shows that
Q10: The imposition of an excise tax will
Q11: A demand curve that is the shape
Q12: With a downward- sloping straight- line demand