What would cause an increase in quantity demanded?

What is the impact of market imperfections on the price elasticities of demand? What is the impact of market imperfections on the price elasticities of supply?

Suppose at a price of $10 quantity demanded is 100 and when price is $11 quantity demanded is 85. What is the price elasticity of demand? Show all your work. Interpret this number completely.

The elasticity of demand measures

When the number of Substitutes are more than that good will have what kind of demand?

The subway fare in your town has just been increased from 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in ridership of 30 percent. What is the price elasticity of demand for subway rides?

Under what circumstances would demand for a product rise when its price increases?

Which price elasticity of demand values or range of values do we see most frequently in the real world?

What is the Law of Diminishing Demand? Provide one example.

The following graph gives two points (A and B) along a hypothetical demand curve for tofu. PRICE (Dollars per pound) 12 11 10 9 1 0 0 10 + B A Demand 20 30 40 50 60 70 80 QUANTITY (Thousands of pounds of tofu) 90 100 110 Using the midpoint method, the price elasticity of demand for tofu between point A and point B is approximately tofu is between points A and B. This indicates that demand for