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Author Question: Suppose the quantity of lemonade demanded falls from 103 000 litres per week to 97 000 litres per ... (Read 101 times)

markburs

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on: Oct 12, 2022

Question 1

Suppose that the quantity of a good demanded rises from 90 units to 110 units when the price falls from $1.20 to 80 cents per unit. The price elasticity of demand for this product is
◦ 1.0.
◦ 4.0.
◦ 0.5.
◦ 1.5.
◦ 2.0.

Question 2

Suppose the quantity of lemonade demanded falls from 103 000 litres per week to 97 000 litres per week as a result of a 10% increase in its price. The price elasticity of demand for lemonade is therefore
◦ 1.03.
◦ 6.0.
◦ 1.97.
◦ 0.6.
◦ impossible to compute unless we know the before and after prices.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by markburs on Oct 12, 2022

RodrickHac

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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markburs

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

ashely1112

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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