Elasticity of demand Quantity Price A 4 15 B 12 6
What will be an ideal response?
1.17
You might also like to view...
Refer to the table below. If the attorney reviews 51 patents, what is the expected marginal benefit of reviewing the 51st patent?
The above below shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) -$40,000
B) $4,000
C) -$4,000
D) $40,000
Suppose the official gold value of the Brazilian real changes from 527 reals per ounce to 508 reals per ounce. We can then say that:
a. the Brazilian real has depreciated in value as a consequence of free market fluctuations. b. the Brazilian real has appreciated in value. c. gold is now more expensive to purchase in Brazil than it was before. d. the Brazilian real has been devalued. e. the Brazilian economy is expected to experience rapid inflation.
The term "Global South" refers to
A. developing countries in Asia, Africa, and Latin America. B. the Southern states of the United States. C. countries in the Southern Hemisphere. D. industrialized countries south of the equator.
Domestic producers might oppose free trade agreements because
A. there could be a decrease in producer surplus. B. there could be an increase in consumer surplus. C. there could be an increase in producer surplus. D. there could be a decrease in consumer surplus.