If the elasticity of demand for good ALPHA is 2.0,
A. A 10% fall in the price of ALPHA will raise quantity demanded by 2%.
B. A price increase will raise total revenue for sellers.
C. A 17% increase in the price of ALPHA will lower quantity demanded by 17%.
D. A 10% rise in the price of ALPHA will lower quantity demanded by 20%.
D. A 10% rise in the price of ALPHA will lower quantity demanded by 20%.
You might also like to view...
Anything that causes the United States to buy more foreign goods shifts the foreign currency __________ curve to the __________
A) demand; right B) demand; left C) supply; right D) supply; left
How does increased immigration affect the labor market? How would the equilibrium wage and the equilibrium quantity of labor be affected?
A discouraged worker is someone who
A) is not in the labor force. B) is employed. C) has been fired. D) is unemployed.
If accounting profits are positive then economic profit is positive
Indicate whether the statement is true or false