Refer to the following figure. When price is $10 and quantity demanded is 2,000, what is the point elasticity of demand?
A. -1/3
B. -3
C. -5
D. -2/3
E. -1
Answer: E
Economics
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A) Consumption expenditure B) Investment C) Government expenditure on goods and services D) Net exports of goods and services E) None of the above because expenditure can never be negative.
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Asymmetric information may cause
A. used goods in excellent condition to not be sold. B. used goods in poor condition to not be offered for sale. C. sellers with goods in excellent condition to accept prices below their willingness to sell. D. sellers with goods in excellent condition to ship the goods to other markets.
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