When demand is unit elastic, an increase in price will lead to increased total revenue for the product. Elasticity: Elasticity is the responsiveness of quantity demanded of a good with respect to the change in the price of t...
Given the price elasticity of demand and the percentage change in price, we can solve for the percentage change in Q demanded. 结果一 题目 If the price elasticity of demand for a good is 4.0, then a 10 percent increase in price would result in a: () A. 4% decrease in the quantity ...
A worldwide drought could increase the total revenue of farmers if the price elasticity of demand for grain is inelastic. The drought reduces the supply of grain, but if demand is inelastic, the reduction of supply causes a large increase in price. Total farm revenue would rise as a result...
A decrease in the price of X from $6 to $4 causes an increase in the quantity of Y demanded (at the current price of Y) from 900 to 1,100 units. What is the cross elasticity of demand between X and Y? a) 0.5 b) -0.5 c) 2 d) -2 e...
If a one percent increase in the price of oranges leads to a five percent increase in the quantity supplied, the price elasticity of supply for oranges is __. 答案: A.1/5B.2C.1/2D.5正确答案:5 点击查看答案 你可能感兴趣的试题 单项选择题 ___ was established in 1877, held from...
Certain trip characteristics and drivers’ demographics significantly influenced price elasticity in the short term, including the purpose of the trip, the distance covered and the income of the car driver.Yi RuCollege of Environmental Science and EngineeringZhang Shiqiu...
If the price of milk increased by 5 percent because of an increase in the demand for milk, and the quantity of milk supplied increased by 7 percent, A. the supply curve of milk has shifted rightward. B. the price elasticity of supply of milk is greater than one. C. milk is more ...
结果1 题目 Suppose a 10 percent increase in the price of textbooks decreases the quantity demanded by 20 percent. The elasticity of demand for textbooks is A. 0.2. B. 2.0. C. 5.0. D. 10.0. 相关知识点: 试题来源: 解析 B 反馈 收藏 ...
A 5 per cent fall in the price of a good raises its demand from 300 units to 318 units. Calculate its price elasticity of demand. View Solution Due to a 10 percent rise in the price of a commodity , its quantity supplied rises from 400 units to 450 units. Calculate its price elastici...
Answer to: If a 2% decrease in the price of a good leads to a 6% increase in the quantity demanded, the price elasticity of demand for the good...