答案如下
If the price elasticity of demand is -1.5 and you increase the price of the product 2 percent, the quantity demanded will:
A) decrease 0.75%
B) decrease 3%
C) decrease 1.5%
D) increase 2%
The correct answer was B) decrease 3%.
If the price elasticity of demand is -1.5, and you increase the price of the product 2%, the quantity demanded will decrease 3%. When the price elasticity is negative, it means that price and demand move in opposite directions. Given a price decrease, demand will increase and vice versa. The absolute value, 1.5, indicates that demand will move one-and-a-half times as much as price.
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发表于 2006-3-29 17:07
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