Answered: When as a result of decrease in price…

When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 33P: The equation for a demand curve is P=483Q. What is the elasticity in moving from quantity of 5 to a...

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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26. When as a result of decrease in price
of good, the total expenditure made
on it decreases we say that price
elasticity of demand is
A. O Less than unity
B. O Unity
C.
O Zero
D. O Greater than Unity

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