Refer to the figure below. For demand curve D1, what is the price elasticity of demand when P = 12? 
A. 12
B. 6
C. 3
D. 4
Answer: C
You might also like to view...
Little Dicky Lemons operates a lemonade stand. Yesterday he sold 10 cups when he charged $1.00 per cu
A) .50 B) 1.0 C) 2.0 D) 4.0 E) 8.0
Any attempt to capture a consumer surplus, a producer surplus, or an economic profit is called
A) profit-maximizing. B) rent-seeking. C) price discriminating. D) efficiency gain.
Jenna runs a small boutique in Capitola. She tells one of her suppliers that she is willing to pay $6 for a pair of wool hand warmers and not a dime more
On the basis of this information, what can you conclude about her price elasticity of demand for wool hand warmers? A) The price elasticity coefficient is 0. B) It is elastic. C) It is perfectly elastic. D) It is perfectly inelastic.
Explain what factors cause shifts of the aggregate demand curve in the open economy model
What will be an ideal response?