Solved

If the Price Elasticity of Demand for a Good Is

Question 105

Multiple Choice

If the price elasticity of demand for a good is 0.94,then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?


A) a 0.235 percent increase in the price of the good
B) a 2.350 percent increase in the price of the good
C) a 3.760 percent increase in the price of the good
D) a 4.255 percent increase in the price of the good

Correct Answer:

verifed

Verified

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

Related Questions

Q48: Demand is said to be inelastic if<br>A)buyers

Q76: The price elasticity of demand measures<br>A)buyers' responsiveness

Q94: If the price elasticity of demand for

Q100: Figure 5-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2178/.jpg" alt="Figure 5-4

Q102: Table 5-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2178/.jpg" alt="Table 5-1

Q136: Last year,Sheila bought 6 pairs of shoes

Q173: The price elasticity of demand measures how

Q246: How does total revenue change as one

Q248: If the price elasticity of demand is

Q281: Which of the following should be held