menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Microeconomics Study Set 10
  4. Exam
    Exam 4: Elasticity
  5. Question
    Suppose Price Decreases from $27
Solved

Suppose Price Decreases from $27

Question 72

Question 72

Multiple Choice

Suppose price decreases from $27.00 to $13.00.Using the mid-point formula,the percentage change in price is:


A) 0.35 = 35 percent.
B) 0.7 = 70 percent.
C) 0.7 = 70 percent
D) 14 percent.

Correct Answer:

verifed

Verified

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

Related Questions

Q41: Elasticity along a demand curve:<br>A) is constant

Q53: The most commonly used measures of elasticity

Q69: Suppose when the price of movie tickets

Q70: If increasing the admission charge for National

Q73: Whether a cross-price elasticity of demand is

Q74: Considering the concept of cross-price elasticity,if two

Q75: The demand for a movie ticket is

Q76: Mathematically,price elasticity of demand is the percentage

Q99: If supply and demand analysis is a

Q119: Income elasticity will be positive for:<br>A) all

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines