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

Author Question: Demand price elasticity is measured by the: a. percentage change in income / percentage change in ... (Read 93 times)

notis

  • Hero Member
  • *****
  • Posts: 596
on: Jun 30, 2018
Demand price elasticity is measured by the:
 a. percentage change in income / percentage change in price.
  b. percentage change in quantity demanded / percentage change in income.
  c. percentage change in price / percentage change in quantity demanded.
  d. percentage change in quantity demanded / percent change in price.
  e. percentage change in total revenue / percentage change in price.

Question 2

Which of the statements below does not describe a demand curve that is unit elastic?
 a. The percentage change in the quantity demanded = percentage change in product price.
  b. An increase in product price will not change total revenue.
  c. The price elasticity of demand equals one.
  d. A change in price does not change quantity demanded.
  e. A decrease in product price will not change total revenue.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jbrasil

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


notis

  • Member
  • Posts: 596
Reply 2 on: Jun 30, 2018
:D TYSM

kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m Change in Drawing Abilities from Early to Middle Childhood Drawings become more realistic as fine m
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Income Distribution in the United States, 2009 Income Distribution in the United States, 2009
If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ... If a graph has the following x-intercepts, which value of x is the instantaneous rate of change ...
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library