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Author Question: Price elasticity of demand is calculated as a. the percentage change in quantity demanded divided ... (Read 88 times)

sammy

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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

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

A

Answer to Question 2

A


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