« previous next »

Author Question: Price elasticity of demand is defined as a. the percentage change in price divided by the ... (Read 77 times)

karateprodigy

  • Hero Member
  • *****
  • Posts: 550
on: Jul 1, 2018
Price elasticity of demand is defined as
 a. the percentage change in price divided by the percentage change in quantity demanded
  b. the percentage change in quantity demanded divided by the percentage change in price
  c. the change in quantity demanded divided by the change in price
  d. the change in price divided by the change in quantity demanded
  e. the quantity demanded divided by the price

Question 2

The general term elasticity refers to a relationship between
 a. quantity demanded and price only
  b. quantity supplied and price only
  c. quantity supplied or demanded and price only
  d. quantity supplied or demanded and anything other than price
  e. percentage changes in any two variables


carolinefletcherr

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

As a result of this change, deoxyhemoglobin S As a result of this change, deoxyhemoglobin S
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
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Percentage of higher-income Canadian households Percentage of higher-income Canadian households
(left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur (left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur
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 ...
Video: Cardiac Cycle (Part 2 of 4)

For a complete list of videos, visit our video library