« previous next »

Author Question: If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 ... (Read 120 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:
 a. price elastic.
  b. price inelastic.
  c. perfectly inelastic.
  d. unitary elastic.

Question 2

Governments can use price elasticity of demand to estimate how changes in excise tax rates will affect:
 a. income.
  b. prices.
  c. tax revenues.
  d. government spending.
  e. profits.


IRincones

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

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.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Gene duplication increases genetic complexity Gene duplication increases genetic complexity
Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
How would you rate your overall health?” The percent of adults answering “excellent” or ... How would you rate your overall health?” The percent of adults answering “excellent” or ...
The signal voltage from a throttle position increases as the throttle is opened because the wiper ... The signal voltage from a throttle position increases as the throttle is opened because the wiper ...
The areas in which reading-associated increases in activity were observed in the fMRI study of ... The areas in which reading-associated increases in activity were observed in the fMRI study of ...
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Role of the urinary system - acidosis and alkalosis

For a complete list of videos, visit our video library