A consumer buys 160 units of a goods at a price of 8 per unit. Price falls to 6 per unit. how much quantity will the consumer buy at new price if elasticity if demand is -2

Q: If the price of gasoline is $2.00 and the price elasticity of demand 0.4, what is the new price if…

A: The price elasticity of DD (demand) can be defined as when the change in quantity (Q) demanded is…

Q: If the price elasticity of demand for an annual magazine subscription is -1.6, what happens in the…

A: Option (a) is correct.

Q: If a 10% price rise causes a 20% decrease in the amount demanded, the price elasticity of demand is…

A: Introduction Given Information    Price elasticity of demand= 5.0  % change in Price = 10 % change…

Q: If the price elasticity of demand for a product is equal to 0.4, then a decrease in price of 8…

A:

Q: If the price elasticity of demand for a product is 0.5, then a price cut from $3.00 to $270 wil…

A: Elasticity of demand : The price elasticity of demand can be defined as the degree of responsiveness…

Q: If the price elasticity of demand is 0.6, then a 10 percent increase in the price of the good will…

A: The price elasticity of (Ed) demand measures the extent of sensitiveness of quantity (Qd) demanded…

Q: The price elasticity of good x is 3.68, the percentage change in price is 8.24, what is the…

A: Price elasticity of demand = 3.68 Percentage change in price = 8.24 ------------

Q: Importance of elasticity in decision making for consumers and producers, explain your concept by…

A: The elasticity of demand in decision-making helps the producer in determining the price of a…

Q: The price elasticity of demand is smaller: A. the fewer substitutes for the product. B. the more…

A: Ans. The Price elasticity of demand is the magnitude of change in quantity demanded to change in the…

Q: The price elasticity of demand for a product is 0.76. A percentage change in price is 13%. The…

A: The change in quantity divided by the average of the initial and final quantities divided by the…

Q: If the price elasticity of demand for Good A is -0.15 and the price increases from $4 to $6.…

A: Given: Price elasticity of demand for Good A = -0.15 Increase in price from $4 to $6

Q: Price elasticity of demand of a good is (-)$1 calculate the percentage change in price that will…

A: According to question we are given that  Demand of a good =(-)$1 percentage change =?

Q: A consumer buys 10 units of goods X at a price of $5 per unit. the price elasticity of demand for…

A: At price $5, the quantity bought = 10 units Price elasticity of  demand = 2 New price = $4

Q: If the price elasticity of demand is 0.15, and the price is doubled, this will lead to a a. 30…

A:

Q: the market demand for a good at $4 per units is 100 units. the price rises and as result its market…

A: Initial price = $4 Initial quantity = 100 units New price = ? New quantity = 75 units Elasticity of…

Q: An end of aisle price promotion changes the price elasticity of a good from -2 to -3. If the normal…

A: We will use the relationship between Price, Marginal Cost and elasticity of demand

Q: The price elasticity  of demand for peanuts is 2.5 by what percentage  will quantity  demanded rise…

A: Price elasticity of demand is the index that is calculated by dividing the percentage change in…

Q: Relative Inelasticity: E<1 If the price of coffee (0.3) increases by 10%, how much will unit…

A: Given: The price elasticity of coffee = 0.3 Increase in coffee price = 10%

Q: Example ( COKE Product)  of cross elasticity of demand

A: Elasticity is a mode to evaluate the change in the quantity of a commodity that will be affected by…

Q: A price elasticity (ED) of -1.50 indicates that for a ____ increase in price, quantity demanded will…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: Price elasticity for Product A is -2.5 Price elasticity for Product B is -1.5 Which product is…

A: Price Elasticity of demand is the percentage change in the quantity due to percentage change in the…

Q: A change in price of $10 from initial price of $15 leads to a change in quantity demanded of 100…

A: The economics as a study is based upon the idea that the resources which the economies have tend to…

Q: If the price elasticity of demand for a product is 5, and prices decrease 10 percent then demand…

A: Price elasticity of demand measures the responsiveness of quantity demanded for a good due to…

Q: True/False When income elasticity is greater than 1 than that good is most probably a luxury.

A: # A good which has an elasticity of demand greater than 1 is having a really high elastic demand.…

Q: The price elasticity of demand for a product is 0.51. A percentage change in price is 17%. The…

A: Given data: Price elasticity of demand is 0.51 Percent change in price is 17% Initial quantity of…

Q: If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity…

A: Initial Price, P = $1 Final Price, P1 = $2 Initial quantity, Q = 100 Final quantity, Q1 = 80

Q: If the price elasticity of demand is 6, then a 3 percent decrease in price results in a type your…

A: The markets are the place where the buyers and the sellers of the goods and services tend to…

Q: If the price of gasoline rises, when is the price elasticity of demand likely to be the highest?…

A: If the price of gasoline rises,  the price elasticity of demand is likely to be the highest one year…

Q: When price elasticity of demand for normal goods is calculated, the

A: To find : What will be value when price elasticity of demand is calculated.

Q: The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the…

A: Price elasticity of demand is the change in quantity demanded for every unit change in the price of…

Q: If the price elasticity of demand for a product is 0.5, then a price cut from $3.00 to $2.70 will 15…

A: Price elasticity of demand: - Price elasticity of demand measures the responsiveness of change in…

Q: Zara purchases 2500 pieces of candies regularly given her income of 5000 pesos. She preferred to buy…

A: Elasticity is a measure of the sensitivity of one variable to changes in another variable, most…

Q: When the price of a good is $6, the quantity demanded is 50 units per month; when the price is $8,…

A: Arc price elasticity refers the change in demand due to change in price so the calculation of the…

Q: If the price increases by 10%, what would happen to the quantity demanded when the price elasticity…

A: Price elasticity of demand: - Price elasticity of demand measures the responsiveness of change in…

Q: The price elasticity of good x is 2.06, the percentage change in price is 10.33, what is the…

A: The Price elasticity of demand is a quantitative statement of the law of demand that is the…

Q: Problem 14: A consumer buys 40 units of a good at a price of 3 per unit. When price rises to 74 per…

A:

Q: The price elasticity of demand for product A is 0.5, and the percentage change in quantity demanded…

A: Price elasticity of demand measures the responsiveness of change in quantity demanded to change in…

Q: A consumer's weekly income is $700, and the consumer buys 7 bars of chocolate per week. When weekly…

A: Income elasticity of demand depicts how much consumer responds with the change in his/her income.

Q: The price of DVDs falls from an average of $22 to $16. As a result sales increase from 50,000 units…

A: Answer to the question is as follows :

Q: The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a;

A: Given information, Price elasticity of demand: 5.0 Change in price: 10% To find: Change in…

Q: If the price elasticity of demand is 5.0 then a 10 percent increase in the price results in a…

A: Price elasticity of demand is a measurement of the change in the consumption of a product in…

Q: When price of a good is 13 per unit, the consumer buys 11 units of that good. When price rises to 15…

A: The price elasticity of demand measures the change in consumption of a product or service in…

Q: The price elasticity of demand for a popular sporting event is 3. If the price of a ticket to this…

A: Price elasticity of demand measures the percentage change in the quantity demanded due to  the…

Q: The value elasticity of demand is -2.5 This means that the demand is highly inelastic True/False

A: We are given that the elasticity of demand is -2.5 We need to comment on the elasticity of this…

Q: If the price elasticity of demand is equal to 2, a 1 percent increase in price will cause the…

A: Price Elasticity of demand is the degree of responsiveness of demand to the change in price. Price…

Q: If the price elasticity of demand of for gasoline is 2, then a 15% decrease in quantity demanded is…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…