This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ ... (Read 91 times)

B

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ decrease in the quantity demanded.
 
  A) 2 percent
  B) 5 percent
  C) 10 percent
  D) 50 percent

Question 2

In economics, the term land means
 
  A) only land that is used in agricultural production.
  B) land, mineral resources, and nature's other bounties.
  C) land that is devoted to economic pursuits.
  D) land used for agricultural and urban purposes.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


B

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 29, 2018
Thank you


jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Summary of greenhouse experimental design and results Summary of greenhouse experimental design and results
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Distribution of skin color as measured by a reflectometer at a wavelength of 685 nm. The results are Distribution of skin color as measured by a reflectometer at a wavelength of 685 nm. The results are
How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ... How high a hill would a 75-kg hiker have to climb to increase her gravitational potential ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Test-Cross Results from Mendel’s Experiments Test-Cross Results from Mendel’s Experiments
Video: Pressure Flow Model Animation

For a complete list of videos, visit our video library