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Author Question: Demand price elasticity is measured by the: a. percentage change in income / percentage change in ... (Read 65 times)

notis

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on: Jun 30, 2018
Demand price elasticity is measured by the:
 a. percentage change in income / percentage change in price.
  b. percentage change in quantity demanded / percentage change in income.
  c. percentage change in price / percentage change in quantity demanded.
  d. percentage change in quantity demanded / percent change in price.
  e. percentage change in total revenue / percentage change in price.

Question 2

Which of the statements below does not describe a demand curve that is unit elastic?
 a. The percentage change in the quantity demanded = percentage change in product price.
  b. An increase in product price will not change total revenue.
  c. The price elasticity of demand equals one.
  d. A change in price does not change quantity demanded.
  e. A decrease in product price will not change total revenue.


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Jbrasil

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

d

Answer to Question 2

d


notis

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ebonylittles

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Reply 3 on: Yesterday
Excellent

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