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

Author Question: If price elasticity of demand is -0.5, a. a 1 decrease in quantity demanded leads to a 0.5 decrease ... (Read 73 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Hdosisshsbshs

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


fbq8i

  • Member
  • Posts: 527
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

raenoj

  • Member
  • Posts: 340
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

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?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Crossing over during meiosis leads to allele combinations in sex cells that are not present in the p Crossing over during meiosis leads to allele combinations in sex cells that are not present in the p
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Electrode placement for chest leads V1–V6. Electrode placement for chest leads V1–V6.
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library