Consider the following data: Price of A Quantity Demanded of A $5 6 $4 10 The absolute value of the price elasticity of demand for product A is
A) 0.44.
B) 1.80.
C) 0.56.
D) 2.25.
D
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Managers will use ________ probabilities to estimate the likelihood of a profitable entry into a foreign market.
A) subjective B) objective C) known D) relative
Exhibit 14-2 Cigarette smoking dataJack enjoys smoking, while Jill fears that second-hand smoke will shorten her life. The following table shows the value Jack places on each cigarette he smokes, and the value Jill places on her shortened life. Use the table to answer the following question(s): Quantityof cigarettes Total value to Jackof cigarettes Days of life lost Total value to Jillof days lost 1 $ 50 1 $ 30 2 90 2 60 3 120 3 90 4 140 4 120 5 150 5 150 As shown in Exhibit 14-2, if non-smokers have a right to a smoke-free environment, and smokers have the right to negotiate, how many days of life will Jill lose?
A. 0. B. 1. C. 3. D. 5.
The Phillips curve assumes that shocks to the economy come from the demand side.
Answer the following statement true (T) or false (F)
Through specialization and international trade, a nation:
A. can attain some combination of goods lying outside its production possibilities curve. B. can move from a high consumption-low investment to a high investment-low consumption point on its production possibilities curve. C. will only attain some combination of goods lying within its production possibilities curve. D. will cause its production possibilities curve to shift leftward.