Refer to the accompanying figure. For demand curve D1, what is the price elasticity of demand when P = 12?

A. 4
B. 12
C. 3
D. 6

Answer: C

Economics

You might also like to view...

Refer to the table above. At what rate did the country grow between 2006 and 2007?

A) 13.63% B) 17.47% C) 15.55% D) 19.24%

Economics

Some central banks pursue price stability before they pursue other goals. Which of the following central banks have this kind of hierarchical mandate?

i. Bank of England ii. Bank of Canada iii. European Central Bank iv. Federal Reserve (U.S.A.) A) i, ii, and iv only B) i and iii only C) i and iv only D) ii, iii, and iv only E) none of the above

Economics