Author Question: If quantity demanded for rice falls by 2 when price increases 8, we know that the absolute value of ... (Read 30 times)

nenivikky · **on:** Jul 1, 2018

If quantity demanded for rice falls by 2 when price increases 8, we know that the absolute value of the own-price elasticity of rice is:
a. 2.5.
b. 0.25
c. 4.0
d. 0.40.

Question 2

The moral hazard in team production arises from
a. poorly designed team membership
b. lack of proper assignment of individual tasks
c. disorganization in groups
d. a conflict between tactically best interest and one's duty
e. insufficient experience