If a 4 percent rise in the price of peanut butter lowers the total revenue received by the producers of peanut butter by 4 percent, the demand for peanut butter
A) is elastic.
B) is inelastic.
C) is unit elastic.
D) has an elasticity of 2.0.
Question 2
In the above figure, suppose the economy had been at point A and now is at B. What could have led to the movement to B?
A) a tax hike
B) an increase in government expenditures on goods and services
C) Winter storms cause factories in the north to be shut down for several weeks.
D) an increase in the money wage rates
Population predictions for 2000–2050, using three different total fertility rates (
How to solve any percent change problem
Total Solid Waste, MSW per Capita
The amino acid lysine has the percent composition 49.3% C, 9.59% H, 19.2% N, and
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.