At a price of $10, quantity demanded is 30 units. When the price rises to $11, quantity demanded is 24 units. What is the absolute price elasticity of demand?

Refer to Figure 11-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from

A) C to A. B) A to B. C) B to A. D) B to C.

If Weiskamp T-shirt Co lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts, then the demand for Weiskamp T- shirts within the $5 to $6 price range is

a. price inelastic b. price elastic c. unit elastic d. cross elastic e. income inelastic