Multiple Choice
If the price of sandals increases by 10 percent and the quantity demanded falls by 20 percent,then the price elasticity of demand in absolute value is
A) .2.
B) 2.
C) 20 percent.
D) 2 percent.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q83: When income falls,the demand for an inferior
Q84: If the price of a good rises
Q85: Sam owns a taco restaurant,and he conducted
Q86: The basic formula for price elasticity of
Q87: Price elasticity looks at<br>A)The law of demand
Q89: Technically the elasticity number is negative because<br>A)When
Q90: Assume that store brand cereal is an
Q91: Price elasticity of demand refers to<br>A)How responsive
Q92: The demand will be _ if the
Q93: Assume a good has a downward-sloping,linear demand