A fall in the price of cabbage from $10.50 to $9.50 per carton increases the quantity demanded from 18,800 to 21,200 cartons. The price elasticity of demand is
A) 1.25.
B) 0.80.
C) 8.00.
D) 1.20.
Correct Answer:
Verified
Q6: The price elasticity of demand can range
Q7: If a price hike of 5 per
Q8: According to the total revenue test, a
Q9: If a rise in the price of
Q10: Microsoft raises the price of its Office
Q12: A 10 per cent increase in income
Q13: On most days the price of a
Q14: A rise in the price of cabbage
Q15: Which of the following goods would BEST
Q16: A straight- line demand curve with negative
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents