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Author Question: Using the average price and average quantity, what is the elasticity of demand for oranges when the ... (Read 91 times)

geoffrey

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on: Jun 29, 2018
Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from 200 to 160 per bushel and so the quantity demanded changes from 1000 to 1400 bushels?
 
  A) 1.5
  B) 0.1
  C) 10.0
  D) 0.67

Question 2

Suppose the real interest rate rises and the quantity of loanable funds decreases. These changes could have been the result of
 
  A) firms expecting higher future profits.
  B) an increase in disposable income.
  C) an increase in household wealth.
  D) a decrease in the default risk.


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wilsonbho

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

A

Answer to Question 2

C


geoffrey

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  • Posts: 880
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

xiaomengxian

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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