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Author Question: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ ... (Read 90 times)

B

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The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ decrease in the quantity demanded.
 
  A) 2 percent
  B) 5 percent
  C) 10 percent
  D) 50 percent

Question 2

In economics, the term land means
 
  A) only land that is used in agricultural production.
  B) land, mineral resources, and nature's other bounties.
  C) land that is devoted to economic pursuits.
  D) land used for agricultural and urban purposes.



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jlaineee

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Answer to Question 1

D

Answer to Question 2

B





 

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