If the price of a cup of coffee increases by 50 percent, the quantity demanded decreases by 50 percent. The price elasticity of demand is:
A. zero.
B. elastic.
C. unit elastic.
D. inelastic.
Answer: C
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Using the table above, if the current market value of the dollar is 70 francs
A) investor A expects dollar appreciation, but B and C expect depreciation. B) investor A expects dollar depreciation, but B and C expect appreciation. C) all three investors expect the dollar to appreciate. D) all three investors expect the dollar to depreciate.
The Widget Company has estimated the following revenue possibilities for the year:
Sales Probability 100 0.15 150 0.20 220 0.30 290 0.20 310 0.15 a. Find expected revenue. b. Find the standard deviation. c. Find the coefficient of variation.
A barter arrangement simply means
A. that gold must be offered from one party. B. the government has to facilitate the exchange. C. a direct exchange of goods without the use of money. D. a promise to pay in the future.
The 45° line on a Lorenz curve represents
A. complete income inequality. B. complete wealth equality. C. complete wealth inequality. D. complete income equality.