【题目】Suppose that the demand function for a produWhat is the elasticity of demand when =4? Is demand elastic or inelastic?(A. η=-(10)/9 elasicB. η=-(10)/9 inlasicC. η=-8/3 inlasicD. η=-8/3 ,elasicE. η=-(12)/5 ,elasic ...
What is the elasticity of demand when x=4? Is demand elastic or inelastic? ( ) A. η =- (10)9, elastic B. η =- (10)9, inelastic C. η =- 83, inelastic D. η =- 83, elastic E. η =- (12)5, elastic 相关知识点: ...
what is elasticity of demand? definition: the elasticity of demand is an economic principle that measures the extent of consumer response to changes in quantity demanded as a result of a price change, as long as all other factors are equal. in other words, it shows how many products ...
1 What is the price elasticity of demand (PED) for a product for which a 10% price rise reduces sales volume by 5%? A -2.0B -0.5C +0.5D +2.0 2 What is the price elasticity of demand for rice based on the information below? Change in priceChange in demand -8% -2% A -4.0B -...
Elasticityis the measure of the demand curve and it’s response to price. The more influenced by price, the more elastic, meaning the price willing to be paid will not deviate very much from the average. A small increase in price may cause quantity demanded to decrease by a large amount ...
What Is Elasticity of Demand? Elasticity of demand refers to the shift in demand for an item or service when a change occurs in one of the variables that buyers consider as part of their purchase decisions. It’s a relationship between demand and another variable, such as price, availability...
Elasticity of demand: Elasticity of demand refers to the ratio of percentage change in the quantity demanded to the percentage change in the price for a product. The elasticity of demand is always negative and it is downward sloping. Answer and Explanation: ...
B) How is the price elasticity of demand calculated?Demand:In business and economics, the term demand is defined as the number of products, goods, and services the target consumers are interested in, able, and willing to consume. Purchasing a product by consumers ...
Using the point method, what is the price elasticity of demand of product X as price falls from its current price of 20 to 15? Old NewPrice 20 15Quantity 10 15 A. 0.5 B. 1 C. 1.5 D. 2 相关知识点: 试题来源: 解析 D Rationale: Percentage change in quantity = 50%. Percentage...
Using the point method, what is the price elasticity of demand of product X as price falls from its current price of $20 to $15?Old New Price 20 15 Quantity 10 15A. 1B. 2C. 1.5D. 0.5 正确答案:B 分享到: 答案解析: The correct answer is: 2 Percentage change in quantity = 50%....