Author Question: As the price of video games is raised from 20to 25, their quantity demanded fell from 1.5 million ... (Read 81 times)

rl · **on:** Jul 1, 2018

As the price of video games is raised from 20to 25, their quantity demanded fell from 1.5 million copies to 1 million copies. The price elasticity of demand for video games is:
a. -0.55
b. -1.8
c. -1.33
d. -2.08

Question 2

When buying a car from a commission salesman you improve your bargaining position by
a. shopping for last year's model when the new model year cars are arriving
b. shopping when the showroom is full of customers
c. shopping when the car lot has few cars left unsold
d. shopping toward the beginning of the month