(Answered) Suppose after a 3 decrease in the price of a good the

Management Studies

Suppose after a 3% decrease in the price of a good, the quantity demanded for the good increases by 2%. Then which of the following is true?

A. The price elasticity of demand is |E| = 0.67.

B. The price elasticity of demand is |E| = 1.5.

C. Total revenue decreases by 1%.

D. Only A and C. E. Only B and C.

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M92092282
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

Quantitative analysis for managerswhat does it mean to be

Quantitative Analysis for Managers What does it mean to be risk averse or risk neutral? How important is it to evaluate risk and to evaluate how sensitive to risk any business, personal, or academic decision you have mad ...

Government policies can give indias biotech industry an

Government policies can give India's biotech industry an opportunity to enter a market segment. What specific policies favor the biotech industry? How do these links back to the Porter Diamond?

Discuss the different types of validity that have been

Discuss the different types of validity that have been employed whether implicitly or explicitly to validate the life position scale. It is ideal therefore to read articles in chronological order starting with the A Life ...

Write template function called sumsmall that takes an array

Write template function called sumSmall that takes an array of type T* and length as parameters. What type should it return? In the function, sum all values THAT ARE LESS THAN 10. In other words, if the value is 10 or gr ...

What is the role of a health informatics professional in

What is the role of a health informatics professional in managing health information throughout its life cycle and challenges related to protecting the integrity of health information? Please provide a reference.

How can employees learn through interaction are some types

How can employees learn through interaction? Are some types of interaction best for learning in some situations but not others? Explain.

A client refuse to pay full payment of human resource

A client refuse to pay full payment of human resource agency and there is no evidence except for verbal agreement. So, what is the two solutions to solve this problem without involving Lawsuit/Court?

Making note of the differences and similarities between a

Making note of the differences and similarities between a non-profit vs a for-profit organization, i.e. the user experience, the style and content what would the differences and simliarities be?

How to create effective ethical polices in the work place

How to create effective ethical polices in the work place? What is the impact of ethical assessment in the work place? How to classify Alcoa's ethical work climate?

Question 1read the extract below and answer the questions

QUESTION 1 Read the extract below and answer the questions which follow: Stakeholder Engagement The Challenge The fast-changing events of 2008 reinforced how important it is to understand the undercurrents of change that ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert