« previous next »

Author Question: Price elasticity of demand is calculated as a. the percentage change in quantity demanded divided ... (Read 57 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jul 1, 2018
Price elasticity of demand is calculated as
 a. the percentage change in quantity demanded divided by the percentage change in price
  b. the percentage change in price divided by the percentage change in quantity demanded
  c. the absolute change in quantity demanded divided by the absolute change in price
  d. the absolute change in price divided by the absolute change in quantity demanded
  e. none of the above

Question 2

If an increase in the price of a product from 1 to 2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is
 a. -1/3
  b. -2 1/3
  c. -1/4
  d. -3
  e. -2/3


jaymee143

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m
Change Women’s Roles Change Women’s Roles
Natural Causes of Climate Change Natural Causes of Climate Change
A Change of Heart A Change of Heart
A Change of Heart A Change of Heart
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Video: Labor and Childbirth - The Three Stages of Labor: Dilation, Expulsion & Placental مراحل الولادة

For a complete list of videos, visit our video library