• Card 8 / 47: If the elasticity of demand for a commodity is estimated to be 1.5, then a decrease in price from \$2.10 to \$1.90 would be expected to increase daily sales by:
A) 50%
B) 1.5%
C) 5%
D) 15%

D) 15%

• Keyboard Shortcuts

 Previous Card ← Previous Card Button Next Card → Next Card Button Flip Card Space-Bar

what is choice?
Suppose a country with fixed quantities of resources is able to produce any of the following combinations of bread and ovens;
willingness and ability to buy at a market price at time specified
demand
JONZY
discuss the meaning of demand in economic
the willingness and ability to buy a commodity
Rifat
just try to elucidate
just try to elucidate something
what
Ashfaq
would you explain
what is elasticity, perfectly elastic, inelastic
When 01 the demand is elastic
Myriam
when demand curve is horizental the curve is perfectly elastic ...when demand curve is vertical then it is perfectly inelastic
Ashfaq
elasticity means that percentage change in quantity demanded due to percentage change in price
Ashfaq
Refers to the level or degree of sensitivity quantity demanded has in my relationship to a change in price
JONZY
introduction to elasticity of demand
what is price commonly called in the labour market
wages?
penn
Explain demand curve
Ibrahim
price in labour market is Marginal Physical Productivity...
what is the price of elasticity of demand
it is the responsiveness of a certain good. and it is calculated as follows: PED=%change in quantity demanded /%change in price
Rue
what is per capita income
what is GDP of an economy
Kafwimbi
Gross Domestic Product
grace
GDP=C+I+G(X-M) C= CONSUMPTION I=INVESTMENT G=GOVERNMENT EXPENDITURES (X-M) = export - import
Sayali
What are the factors that drive exchange rates?
MacFisto
Why is scarcity the main problem of economics
Because of unlimited needs and wants demanded by the household
Jeremiah
what is GDP deflator?
saud
Because of endless needs and wants required to achieve maximum satisfaction possible by consumers
Nobert
how to calculate price elasticity demand?
change in quantity over quantity divided by change in price over price
Pele
Percentage change in quantity demanded over the percentage change in price
Nobert
if the local pizzeria raises the price of a medium pizza from Rd.60to 100 & quantity demanded falls from 700 pizzas a night to 100 pizzas at night , the price elasticity of demand for pizzas is:
1.2. Measurement of price Elasticity of demand
Lakshmi
0.11
Nobert
Lakshmi tell me how wrong am I coz I see you've got different answer from mine?
Nobert
_1.28
Melvis
explain how price and output are determind by a discriminating monopolist
price and output determined through interaction between demand curve and supply curve...
Ajay
how do I view the graphs Author: Prof. Frank Levy Lecturer Harvard Medical School USA Access: Public Instant Grading       By   