Author Question: A 10 percent increase in the quantity of spinach demanded results from a 20 percent decline in its ... (Read 85 times)

xclash · **on:** Jun 29, 2018

A 10 percent increase in the quantity of spinach demanded results from a 20 percent decline in its price. The price elasticity of demand for spinach is

A) 0.5.
B) 2.0.
C) 10.0.
D) 20.0.

Question 2

Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the demand curve for U.S. Dollars ________ and the demand curve for South Korean Won ________.

A) shifts rightward; does not shift
B) shifts rightward; shifts leftward
C) does not shift; shifts leftward
D) shifts leftward; shifts rightward