If a 6 per cent decrease in the price leads to a 5 per cent increase in the quantity demanded, the price elasticity of demand is
A) 1.20.
B) 0.60.
C) 0.30.
D) 0.83.
Correct Answer:
Verified
Q25: Demand is inelastic when a price _
Q26: If the supply of a good is
Q27: If Sam wants to increase her total
Q28: If the cross elasticity of demand between
Q29: Supply is elastic if
A) the slope of
Q31: If the price elasticity is between 0
Q32: Joan's income has just risen from $940
Q33: The income elasticity of demand for bicycles
Q34: If a 5 per cent change in
Q35: If the price of oil is $60
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents