Multiple Choice
Suppose a decrease in demand causes the price to decrease from $4 to $3 and the quantity to decrease from 1,000 to 700.Using the midpoint method,the elasticity of supply equals
A) 0.81.
B) 1.24.
C) 2.83.
D) 0.18.
E) None of the above answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q180: The long-run price elasticity of demand for
Q181: If a product is a normal good,then
Q182: List factors that increase the price elasticity
Q183: When the percentage change in the quantity
Q184: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" The figure
Q186: Total revenue increases if the price of
Q187: Which of the following does NOT influence
Q188: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -Based on data
Q190: If a 2 percent change in price
Q378: If the price of a magazine increases