Solved

Suppose There Is a 3 Percent Increase in the Price

Question 129

Multiple Choice

Suppose there is a 3 percent increase in the price of good X and a resulting 6 percent decrease in the quantity of X demanded.What is the price elasticity of demand for X


A) 0
B) 2
C) 6
D) infinite

Correct Answer:

verifed

Verified

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

Related Questions

Q124: The price of calculators increases by 15

Q125: What does the price elasticity of demand

Q126: What can the cross-price elasticity of demand

Q127: If the cross-price elasticity of demand of

Q128: If a good is a luxury,what would

Q130: Figure 5-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 5-5

Q131: Generally,over which time period will a firm

Q132: Figure 5-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 5-5

Q133: Suppose that 100 candy bars are demanded

Q134: In each of the following cases,do you