« previous next »

Author Question: If an increase in income results in a rightward parallel shift of the demand curve, then at any ... (Read 83 times)

natalie2426

  • Hero Member
  • *****
  • Posts: 524
on: Jul 1, 2018
If an increase in income results in a rightward parallel shift of the demand curve, then at any given price, the price elasticity of demand will have
 
  A) increased in absolute terms.
  B) decreased in absolute terms.
  C) remained unchanged.
  D) increased, decreased or stayed the same. It cannot be determined.

Question 2

Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for 10, then the price elasticity of demand equals
 
  A) -1.5.
  B) -0.67.
  C) -4.
  D) -2.5.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


nothere

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

A sigmoid (cooperative) binding curve A sigmoid (cooperative) binding curve
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Reduced mobility in late adulthood often results in more limited activities and smaller social ... Reduced mobility in late adulthood often results in more limited activities and smaller social ...
Frequency distribution curve: interpatient variability in drug response. Frequency distribution curve: interpatient variability in drug response.
How to plot a sine function with a negative amplitude and phase shift (Question 3 of 3) How to plot a sine function with a negative amplitude and phase shift (Question 3 of 3)
How to shift and reflect a square root function using transformations How to shift and reflect a square root function using transformations
Video: Bone tissue types - compact and spongy

For a complete list of videos, visit our video library