Multiple Choice
Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from $120 a ton to $180 a ton and quantity sold decreased from 800 tons to 240 tons.What is the absolute value of the price elasticity of demand?
A) 0.11
B) 0.37
C) 2.69
D) 9.33
Correct Answer:
Verified
Correct Answer:
Verified
Q143: Table 6-7<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Table 6-7
Q144: A recent study indicated that "Stricter college
Q145: According to an article in the Wall
Q146: There are a limited number of original
Q147: If tolls on a toll road can
Q149: Which of the following products comes closest
Q150: A linear downward-sloping demand curve has price
Q151: Figure 6-8<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 6-8
Q152: To calculate the price elasticity of supply,
Q153: Suppose the demand for milk is relatively