Table 5.4
$$\begin{array}{l}
\quad\quad\quad\quad\quad\underline{\text { Restaurant Meals}}\
\begin{array} { c c c }
\begin{array} { c }
\text { Quantity } \
\text { supplied }
\end{array} & \begin{array} { c }
\text { Quantity } \
\text { demanded }
\end{array} & \text { Price } \
\hline 100 & 200 & \$ 10 \
150 & 150 & \$ 20
\end{array}
\end{array}$$
-Refer to Table 5.4,which shows the quantity supplied and the quantity demanded for restaurant meals at different prices.Use the information to calculate the value of the price elasticity of demand for restaurant meals.
A)?1/2
B)?5/3
C)?3/5
D)?3/7
E)?7/3

Question

Table 5.4
 $$\begin{array}{l}
\quad\quad\quad\quad\quad\underline{\text { Restaurant Meals}}\
\begin{array} { c c c } 
\begin{array} { c } 
\text { Quantity } \
\text { supplied }
\end{array} & \begin{array} { c } 
\text { Quantity } \
\text { demanded }
\end{array} & \text { Price } \
\hline 100 & 200 & \$ 10 \
150 & 150 & \$ 20
\end{array}
\end{array}$$
-Refer to Table 5.4,which shows the quantity supplied and the quantity demanded for restaurant meals at different prices.Use the information to calculate the value of the price elasticity of demand for restaurant meals.
A)?1/2
B)?5/3
C)?3/5
D)?3/7
E)?7/3

Quizplus · Accepted Answer

The Answer of Table 5.4
 $$\begin{array}{l}
\quad\quad\quad\quad\quad\underline{\text { Restaurant Meals}}\
\begin{array} { c c c } 
\begin{array} { c } 
\text { Quantity } \
\text { supplied }
\end{array} & \begin{array} { c } 
\text { Quantity } \
\text { demanded }
\end{array} & \text { Price } \
\hline 100 & 200 & \$ 10 \
150 & 150 & \$ 20
\end{array}
\end{array}$$
-Refer to Table 5.4,which shows the quantity supplied and the quantity demanded for restaurant meals at different prices.Use the information to calculate the value of the price elasticity of demand for restaurant meals.
A)?1/2
B)?5/3
C)?3/5
D)?3/7
E)?7/3

Table 54 -Refer to Table 5