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Author Question: Tara buys four music cassettes when the price is 10 and two cassettes when the price is 14 . Her ... (Read 47 times)

Alygatorr01285

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  • Posts: 564
on: Jun 30, 2018
Tara buys four music cassettes when the price is 10 and two cassettes when the price is 14 . Her price elasticity of demand is:
 a. 0.
  b. 1.
  c. 2.
  d. 3.
  e. 4.

Question 2

Leo's Bakery reduces the price of wheat bread from 3 to 1 and finds that quantity demanded increases from 100 to 122 loaves. Leo calculates that his price elasticity of demand for wheat bread is:
 a. 0.
  b. 0.2.
  c. 1.0.
  d. 1.5.
  e. 2.0


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Sierray

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

c

Answer to Question 2

b


Alygatorr01285

  • Member
  • Posts: 564
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

lkanara2

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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