Q16. If the price elasticity of demand is 1.5 and a change in the price of the product increases the quantity demanded by 4%, then what is the percent change in price? A) +2.667%. B) –0.375%. C) −2.667%.
Q17. If the price elasticity of demand for a good is 4.0, then a 10% increase in price would result in a: A) 4% decrease in the quantity demanded. B) 10% decrease in the quantity demanded. C) 40% decrease in the quantity demanded.
Q18. The price of product Z decreased from $2.50 per unit to $2.00 per unit. Since the price decreased, demand has gone up from 3 million units to 4 million units. Calculate the respective price elasticity of demand and determine the elasticity of demand. A) −1.29; elastic. B) −1.29; inelastic. C) −2.00; elastic.
Q19. If the number of widgets demanded changes from 51 to 49 when the price changes from $4 to $6, the price elasticity of demand is:
A) Elastic. B) -2.00. C) -0.10. | 
发表于 2008-12-31 09:29
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