What would be the consequence of a 10 percent decrease in the price of a good for which price elasticity of demand is 5?
a. A 50 percent decrease in the quantity demanded
b. A 5 percent increase in the quantity demanded
c. A 50 percent increase in the quantity demanded
d. A decrease in the quantity demanded by 0.2 units
e. An increase in the quantity demanded by 0.2 units
c
Economics
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High inflation that persists beyond the ending of expansionary policies is probably ________
A) demand-pull inflation B) Humphrey-Hawkins inflation C) cost-push inflation D) a result of unemployment remaining below the natural rate E) none of the above
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Property rights are a tangible factor in producing economic growth
Indicate whether the statement is true or false
Economics