In the figure above, using the midpoint method, the price elasticity of demand when the price falls from $7 to $6 is equal to
A) 2.50.
B) 1.63.
C) 0.40.
D) 0.62.
E) 1.00.
B
You might also like to view...
The above figure shows the Lorenz curves for four different countries. Which country has the most unequal distribution of income?
A) country A B) country B C) country C D) country D
To avoid increasing the national debit, the federal government should increase income taxes. This is an example of a ______.
a. normative statement b. positive statement c. hypothesis d. theory
Acres of LandTanks of FertilizerTruckloads of Potatoes2002820170202105203135204152205141
Refer to Table 2.4. Increasing the tanks of fertilizer from 3 to 4 will increase the truckloads of potatoes by:
A. 152. B. 35. C. 17. D. 11.
A patent gives a firm the exclusive right to produce a product for
A. 2 years. B. Forever. C. 20 years. D. 6 months.