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Author Question: An economist estimates that .67 is the price elasticity of demand for disposable diapers. This ... (Read 54 times)

Jipu 123

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on: Jun 30, 2018
An economist estimates that .67 is the price elasticity of demand for disposable diapers. This suggests that disposable diaper producers could:
 a. advertise more to raise the price elasticity of demand.
  b. encourage more parents to use cloth diapers.
  c. lower the price of disposable diapers to raise more revenue.
  d. raise the price of disposable diapers to raise more revenue.
  e. maximize revenues by staying at the current price.

Question 2

If demand for a good is price elastic, then the price elasticity will be:
 a. equal to one.
  b. equal to zero.
  c. greater than one.
  d. less than one.
  e. less than zero.


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leahm14

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


Jipu 123

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

gcook

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Reply 3 on: Yesterday
Excellent

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