« previous next »

Author Question: Price elasticity of demand is calculated as a. the percentage change in quantity demanded divided ... (Read 97 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jul 1, 2018
Price elasticity of demand is calculated as
 a. the percentage change in quantity demanded divided by the percentage change in price
  b. the percentage change in price divided by the percentage change in quantity demanded
  c. the absolute change in quantity demanded divided by the absolute change in price
  d. the absolute change in price divided by the absolute change in quantity demanded
  e. none of the above

Question 2

If an increase in the price of a product from 1 to 2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is
 a. -1/3
  b. -2 1/3
  c. -1/4
  d. -3
  e. -2/3


jaymee143

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
Radiative forcing expresses change in energy input over time Radiative forcing expresses change in energy input over time
The ability of a community to cope, adapt to, and mitigate the accelerating impact of climate change The ability of a community to cope, adapt to, and mitigate the accelerating impact of climate change
Change in Bone Mass over Time In your early years, more bone mass is added than lost in your body Change in Bone Mass over Time In your early years, more bone mass is added than lost in your body
Percentage distribution of outcomes of teenaged pregnancy Percentage distribution of outcomes of teenaged pregnancy
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library