Suppose that quantity demand rises by 10% as a result of a 15% decrease in price. The price elasticity of demand for this good is
a. inelastic and equal to 0.67.
b. elastic and equal to 0.67.
c. inelastic and equal to 1.50.
d. elastic and equal to 1.50.
a
Economics
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Japan was accused of dumping in the steel industry within the United States when it
A) negotiated an illegal agreement to raise prices with U.S. steel industries. B) prohibited imports of U.S. steel into Japan. C) sold steel in the United States at a price below its cost of production. D) negotiated an illegal trade deal with Canada.
Economics
An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account. B) money market mutual fund. C) individual retirement account. D) discount brokerage.
Economics