The price elasticity of demand can be computed as
A. change in total utility/change in quantity.
B.
| percentage change in quantity demanded/percentage change in price. |
C. change in price/change in quantity demanded.
D. change in quantity demanded/change in price.
Answer: B
You might also like to view...
Use the following table to answer the next question.Interest RateDemand for Money (billions)7%$200630054004500If the current interest rate is 5%, what will be the equilibrium interest rate if the money supply falls by $100 billion dollars?
A. 6% B. 5% C. 7% D. 4%
In a business cycle, the date at which a recession starts is called a trough
Indicate whether the statement is true or false
If the fixed costs for a firm rise what will be the impact on the marginal cost, average variable cost and average total cost curves? Explain
What will be an ideal response?
Which of these actions will occur to the budget constraint when an individual's income increases?
a. shifts outward b. shifts backward c. rotates clockwise d. cannot be determined from the information given