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Author Question: The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is ... (Read 61 times)

MirandaLo

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on: Jun 29, 2018
The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is 1.25, the price of new cars will fall by
 
  A) 2.5 percent.
  B) 8 percent.
  C) 10 percent.
  D) 12.5 percent.

Question 2

The existence of economies of scale can create ________.
 
  A) a natural monopoly
  B) a government monopoly
  C) a legal monopoly
  D) a market in which many firms make identical products


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kswal303

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


MirandaLo

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kilada

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Reply 3 on: Yesterday
Excellent

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