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Author Question: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a ________ ... (Read 88 times)

B

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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.


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jlaineee

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

D

Answer to Question 2

B


B

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Reply #2 on: Jun 29, 2018
Thank you


jlaineee

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Reply #3 on: Jun 29, 2018
No problemo


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