« previous next »

Author Question: If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 ... (Read 121 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:
 a. price elastic.
  b. price inelastic.
  c. perfectly inelastic.
  d. unitary elastic.

Question 2

Governments can use price elasticity of demand to estimate how changes in excise tax rates will affect:
 a. income.
  b. prices.
  c. tax revenues.
  d. government spending.
  e. profits.


IRincones

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Exercise increases the heart rate. Exercise increases the heart rate.
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
How to solve any percent concentration problem How to solve any percent concentration problem
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ... When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Adolescent Diabetes

For a complete list of videos, visit our video library