menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Macroeconomics Study Set 57
  4. Exam
    Exam 4: Elasticity
  5. Question
    If the Price of a Good Increases by 10 Percent
Solved

If the Price of a Good Increases by 10 Percent

Question 120

Question 120

Multiple Choice

If the price of a good increases by 10 percent and its quantity demanded drops by 50 percent, the price elasticity of demand is:


A) 1.0.
B) 0.2.
C) −5.0.
D) 2.0.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q115: A decrease in price:<br>A) causes a decrease

Q116: A horizontal demand curve indicates that:<br>A) quantity

Q117: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8194/.jpg" alt=" Consider the market

Q118: The cross-price elasticity of demand between peanut

Q119: Income elasticity will be positive for:<br>A) all

Q121: If a small percentage change in price

Q122: If consumers spend more money on coffee

Q123: If a large percentage change in price

Q124: A corn farmer is likely to have

Q125: Perfectly inelastic demand occurs when:<br>A) consumers are

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines