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

Author Question: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ ... (Read 33 times)

B

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ decrease in the quantity demanded.
 
  A) 2 percent
  B) 5 percent
  C) 10 percent
  D) 50 percent

Question 2

In economics, the term land means
 
  A) only land that is used in agricultural production.
  B) land, mineral resources, and nature's other bounties.
  C) land that is devoted to economic pursuits.
  D) land used for agricultural and urban purposes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


B

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 29, 2018
Thank you


jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Analogy for How Magnetic Field Strengths Increase Analogy for How Magnetic Field Strengths Increase
Lab results Lab results
How to solve any percent concentration problem How to solve any percent concentration problem
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Percent of Selected Foods and Beverages Consumed in the United States Percent of Selected Foods and Beverages Consumed in the United States
BLAST results showing a 280-base sequence of a chromosome 12 contig from rats BLAST results showing a 280-base sequence of a chromosome 12 contig from rats
Video: Epidural Hematoma

For a complete list of videos, visit our video library