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  3. Study Set
    Microeconomics Study Set 30
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    Exam 6: Describing Supply and Demand: Elasticities
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    Refer to the Graph Shown
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Refer to the Graph Shown

Question 50

Question 50

Multiple Choice

Refer to the graph shown. Calculate the approximate average elasticity of demand as the price falls from $18 to $0: Refer to the graph shown. Calculate the approximate average elasticity of demand as the price falls from $18 to $0:   A)  3. B)  1. C)  2/3. D)  3/2.


A) 3.
B) 1.
C) 2/3.
D) 3/2.

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