Suppose the price of a ticket to a Lenny Kravitz concert is $41 and at that price, the quantity of tickets demanded is 17,000 per concert
Using the midpoint method of calculating percentage changes, if
Mr. Kravitz raises the price to $48 and the quantity demanded decreases to 16,000, the price elasticity of demand for his concert tickets is
A) 15.73.
B) 6.06.
C) 1.00.
D) 0.39.
E) 0.93.
D
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Most countries in the world are classified as
A) advanced. B) in transition. C) developing. D) industrialized. E) emerging market.
Make a case that development economics might be merely a combination of all the other subfields of economics, only applied to low-income countries
What will be an ideal response?
Voluntary agreements about cleaning up pollution attempt to
A) internalize externalities. B) internalize private costs. C) externalize social costs. D) externalize private costs.
Which of the following is an example of Maslow's first level of needs?
a. food b. car c. school d. church