Refer to the above table. What is the absolute price elasticity of demand if a price falls from $7.50 to $7?
A. 0.724
B. 1.38
C. 10
D. 0.1
Answer: B
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. Achieving cost-effectiveness means that the present value of costs (PVC) is minimized for some pre-established benefit goal. 2. To achieve allocative efficiency, the present value of net benefits (PVNB) must be minimized. 3. In conducting a benefit-cost analysis, it is more difficult to assign a dollar value to costs than to benefits. 4. Selecting the social discount rate is among the issues debated in the use of benefit-cost analysis for public policy evaluation.
If the present value of an individual's savings account is $100,000, what is its future value in 5 years if the account earns an annual interest rate of 2 percent?
A) $112,125.40 B) $109,582.03 C) $110,250.00 D) $110,408.08
The opportunity cost of an action is: a. the value of the best foregone alternative
b. the difference between the benefits that result and the expenses incurred as a result of the action. c. the same as the expected benefit of the action. d. the same for everyone who undertakes the action.
Foreign exchange is traded:
a. weekly on the Internet in special auctions arranged by the Federal Reserve. b. continuously all over the world 24 hours a day and seven days a week. c. only in officially designated trading centers such as London or New York. d. It is traded in none of these ways or venues.