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Author Question: Which of the following statements would you expect to be true about price elasticities of demand for ... (Read 69 times)

jenniferbaugh1984

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on: Oct 12, 2022

Question 1

Suppose the quantity demanded of a good rises from 40 units to 60 units per month when the price falls from $1.05 to 95 cents per unit. The price elasticity of demand for this product is
◦ 0.5.
◦ 4.0.
◦ 1.0.
◦ 2.0.
◦ 1.5.

Question 2

Which of the following statements would you expect to be true about price elasticities of demand for T-shirts and clothing?
◦ Because T-shirts are clothing, but not all clothing is T-shirts, T-shirts would have a lower price elasticity of demand than clothing.
◦ Clothing has a higher price elasticity of demand because it is a necessity.
◦ T-shirts would have the same price elasticity of demand as clothing.
◦ Clothing has a lower price elasticity of demand because it is more broadly defined.
◦ Compared with clothing, T-shirts have a lower price elasticity of demand because they are specifically defined.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by jenniferbaugh1984 on Oct 12, 2022

msgero

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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.
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jenniferbaugh1984

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

olderstudent

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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