Exhibit 5-2 
Use the information in Exhibit 5-2 to calculate the value of price elasticity of demand.
A) -2/3
B) -1/3
C) -3/5
D) -5/3
E) 0
Correct Answer:
Verified
Q2: When quantity is measured in gallons, the
Q3: A good synonym for elasticity would be
A)stability
B)volatility
C)stickiness
D)demand
E)responsiveness
Q4: Elasticity measures
A)whether a price increase causes quantity
Q5: If an increase in the price of
Q6: "More elastic" means
A)unchanging
B)less desirable
C)more desirable
D)less responsive
E)more responsive
Q7: The price elasticity of demand helps determine
Q8: If the value of the price elasticity
Q9: Price elasticity of demand is typically negative
Q10: Price elasticity of demand is defined as
A)the
Q11: The price elasticity of demand is equal
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