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

Author Question: If the price elasticity of demand is 1.2, then a 10% increase in price results in a (Read 39 times)

haydenjmcm

  • Full Member
  • ***
  • Posts: 161
on: Oct 12, 2022

Question 1

Suppose an increase in demand for web-design service in Canada increases the price from $95 per hour to $105 per hour and hours of service delivered increases from 400 000 hours to 800 000. What is the elasticity of supply of this service?
◦ 4.2
◦ 0.167
◦ 0.15
◦ 16.67
◦ 6.67

Question 2

If the price elasticity of demand is 1.2, then a 10% increase in price results in a
◦ 12% decrease in quantity demanded.
◦ 12% increase in quantity demanded.
◦ 12% decrease in total revenue.
◦ 1.2% increase in quantity demanded.
◦ 1.2% decrease in quantity demanded.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by haydenjmcm on Oct 12, 2022

DevinBrifm

  • Full Member
  • ***
  • Posts: 180
    • i thought about coupon codes
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly

When you observe that the full time is nearing, increase that to your grocery list. navigate to these guys

haydenjmcm

  • Member
  • Posts: 161
Reply 2 on: Oct 12, 2022
Excellent

meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Results are shown for proteins denatured by two different environmental changes Results are shown for proteins denatured by two different environmental changes
Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Effect of an Increase in Technological Progress Effect of an Increase in Technological Progress
An example of DNA profile results for the 13 original CODIS STRs An example of DNA profile results for the 13 original CODIS STRs
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library