If the price elasticity of demand for a good is 4, then a 12 percent decrease in price results in a
a. 0.33 percent increase in the quantity demanded.
b. 3 percent increase in the quantity demanded.
c. 30 percent increase in the quantity demanded.
d. 48 percent increase in the quantity demanded.
d
Economics
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Refer to Scenario 10.2. Suppose that a tax of $5 for each unit produced is imposed by state government. What is the profit maximizing level of output?
A) 0 B) 90 C) 95 D) 100 E) none of the above
Economics
A bank would be considered insolvent when the value of its liabilities exceed its
A. assets. B. required reserves. C. actual reserves. D. net worth.
Economics