The formula for price elasticity of demand that is used in practice
a. usually drops all minus signs.
b. usually takes on different values at different points on the demand curve.
c. may calculate the percentage change in price between P1 and P2 as "(P2 ? P1) as a percentage of (P1 + P2)/2."
d. All of the above are correct.
d
Economics
You might also like to view...
Referring to Figure 19.1, U.S. goods will become cheaper in Mexico if the exchange rate goes from ________ to ________ pesos to the dollar
A) 12; 13 B) 10; 14 C) 12; 11 D) 11; 13
Economics
Producer surplus
A) increases if market price rises and the supply curve does not shift. B) decreases if market price rises and the supply curve does not shift. C) is equal to the maximum price consumers are willing to pay. D) is the same as the marginal cost. E) always must equal consumer surplus.
Economics