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Author Question: If price elasticity of demand is -0.5, a. a 1 decrease in quantity demanded leads to a 0.5 decrease ... (Read 63 times)

fbq8i

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on: Jul 1, 2018
If price elasticity of demand is -0.5,
 a. a 1 decrease in quantity demanded leads to a 0.5 decrease in price
  b. a 1 decrease in price leads to a 0.5 increase in quantity demanded
  c. a 50 decrease in price leads to a 1 increase in quantity demanded
  d. a 50 decrease in price leads to a 100 increase in quantity demanded
  e. demand is elastic

Question 2

If a 5 increase in price leads to an 8 decrease in quantity demanded, demand is
 a. perfectly elastic
  b. elastic
  c. unit elastic
  d. inelastic
  e. perfectly inelastic


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Hdosisshsbshs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


fbq8i

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

ktidd

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Reply 3 on: Yesterday
:D TYSM

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