If the quantity of Harley-Davidson motorcycles demanded decreases by 10% when the price increases by 20%, the price elasticity of demand for Harley-Davidson motorcycles is:
A. -0.50
B. -2.0
C. -20.0
D. -10.0
Answer: A
Economics
You might also like to view...
For which product is the income elasticity of demand most likely to be negative?
A. Bread B. Used clothing C. Computer software D. Golf balls
Economics
Pure competition results in a lower price but identical output level compared to those in monopolistic competition.
Answer the following statement true (T) or false (F)
Economics
Refer to Figure 18.3. The opportunity cost of producing scooters in Livonia is
A) 2/3 of a pogo stick. B) 6/5 of a pogo stick. C) 1.5 pogo sticks. D) 1.25 pogo sticks.
Economics
A cost not borne by the producer but borne by other people is known as ________ cost
A) a marginal B) an internal C) an external D) a nonessential E) a subsidized
Economics