Suppose you are given the following demand data for a product.PriceQuantity Demanded$1030940850760670The price elasticity of demand (based on the midpoint formula) when price increases from $8 to $10 is
A. -.63.
B. -2.25.
C. -1.60.
D. -1.16.
Answer: B
You might also like to view...
When an investor buys a corporate bond, the ________ the bond is a loan to the corporation
A) interest on B) dividend payment on C) coupon payment on D) face value of
Public choice theory assumes that each voter will tend to favor the political candidate who offers: a. programs with the largest social benefits
b. equality of government-provided benefits across all citizens. c. programs that will yield the greatest personal benefits net of personal cost. d. a plan requiring the least amount of tax dollars, regardless of the level of benefits provided.
Under which conditions might diseconomies of scale result?
A. improved coordination brought about by bureaucracy B. increasing price of inputs C. increasing output prices D. usage of a large amount of indivisible inputs by the firm
Is the claim that environmental standards reduce industrial competitiveness valid?
A) Yes, because environmental standards raise costs to businesses. B) No, because consumers will want to buy from firms that pollute less. C) No, because environmental standards have little effect in high-income countries. D) Yes, because environmental standards will cause the imposition of WTO sanctions.