This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the quantity of lemonade demanded falls from 103 000 litres per week to 97 000 litres per ... (Read 61 times)

markburs

  • Full Member
  • ***
  • Posts: 147
on: Oct 12, 2022

Question 1

Suppose that the quantity of a good demanded rises from 90 units to 110 units when the price falls from $1.20 to 80 cents per unit. The price elasticity of demand for this product is
◦ 1.0.
◦ 4.0.
◦ 0.5.
◦ 1.5.
◦ 2.0.

Question 2

Suppose the quantity of lemonade demanded falls from 103 000 litres per week to 97 000 litres per week as a result of a 10% increase in its price. The price elasticity of demand for lemonade is therefore
◦ 1.03.
◦ 6.0.
◦ 1.97.
◦ 0.6.
◦ impossible to compute unless we know the before and after prices.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by markburs on Oct 12, 2022

RodrickHac

  • Full Member
  • ***
  • Posts: 174
    • anestencream.com
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


markburs

  • Member
  • Posts: 147
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Risk for falls cont'd Risk for falls cont'd
Development of a Baby in 36th Week Development of a Baby in 36th Week
Embryonic Period - 4th week Embryonic Period - 4th week
Embryonic Period - 8th week Embryonic Period - 8th week
Six-week embryo showing development of hand and foot plates Six-week embryo showing development of hand and foot plates
Sexual Development begins in the Seventh week of Gestation Sexual Development begins in the Seventh week of Gestation
Video: Introduction to Heart Attacks

For a complete list of videos, visit our video library