A 10 percent increase in the price of portable power banks leads to a 5 percent decrease in the quantity demanded of portable power banks. The absolute price elasticity of demand is
A) 3.
B) 0.33.
C) 0.5.
D) 2.
Answer: C
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All of the following were important colonial industries except:
a. tobacco production. b. production of ships' stores. c. manufacturing of finished metal products. d. shipbuilding.
If a product exhibits decreasing returns to scale, then the average cost of making the product will ______ as its production increases?
a. Increase. b. Decrease. c. Remain the same. d. There is insufficient information provided to ANSWER the question.
What is the current market price of a bond that pays $200 per year indefinitely and has a current yield of 16 percent?
a. $800 b. $1250 c. $3,200 d. $8,000 e. $12,500
When demand changes and the demand curve shifts, equilibrium price and equilibrium quantity change in the same direction.
Answer the following statement true (T) or false (F)