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 100 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?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

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?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Regular staff meetings increase the efficiency of the medical office staff. Regular staff meetings increase the efficiency of the medical office staff.
Benedict's test results Benedict's test results
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Percent of Selected Foods and Beverages Consumed in the United States Percent of Selected Foods and Beverages Consumed in the United States
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Results of one round of replication of DNA Results of one round of replication of DNA
Video: Cardiac Cycle (Part 1 of 4)

For a complete list of videos, visit our video library