Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.?Figure 5.2Refer to Figure 5.2. If the price of a hamburger decreases from $6 to $2, the price elasticity of demand equals ________. Use the midpoint formula.

A. -0.25
B. -0.5
C. -2.0
D. -4.0

Answer: B

Economics

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In China

A) wages are beginning to rise, reducing its comparative advantage. B) there is little advantage from scale economies. C) the middle class is not expanding. D) poor coastal areas limit trade.

Economics

John Maynard Keynes's central proposition that a dollar increase in disposable income would increase consumption, but by less than the increase in disposable income, means the marginal propensity to consume (MPC) is:

a. greater than or equal to one. b. equal to one. c. less than one, but greater than zero. d. negative.

Economics