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Author Question: When the price of perfume changes from 24 to 26, the quantity supplied increases from 100 jars to ... (Read 114 times)

Alainaaa8

  • Hero Member
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  • Posts: 576
on: Jun 29, 2018
When the price of perfume changes from 24 to 26, the quantity supplied increases from 100 jars to 150 jars. What is the elasticity of supply of perfume?
 
  A) 0.04
  B) 25.0
  C) 5.0
  D) 0.2

Question 2

If a market is shared equally by four firms, the Herfindahl-Hirschman Index is
 
  A) 1/4.
  B) 4.
  C) 25.
  D) 2,500.


ApricotDream

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


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