The price elasticity of demand for color printers is 1.6 and you would like to see the quantity demanded for color printers to increase by 32%. Then the percentage change in price should be:
A. 10%.
B. 15%.
C. 20%.
D. 25%.
Answer: C
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In 2007 ROA for banks in the United States stood at a little under __________ percent
A) one B) five C) eight D) twenty
The main problem with accepting the national security argument as a valid reason to restrict international trade is that
a. other countries could have produced the goods more efficiently b. almost all industries could be described as being vital to national security c. technology secrets are difficult to keep from other countries in this age of computer information d. it will become too expensive to produce national security goods within the country e. in reality, tariffs are impossible to enforce effectively because of the black market
When a bank loan is repaid the supply of money
A. is constant, but its composition will have changed. B. is decreased. C. is increased. D. may either increase or decrease.
If, as a perfectly competitive industry expands, it can supply larger quantities only at a higher long-run equilibrium price, it is
A) a constant-cost industry. B) an increasing-cost industry. C) a decreasing-cost industry. D) a fixed-cost industry.