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ivolga24 [154]
3 years ago
13

If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A pri

ce increase of 1% will reduce quantity demanded by 4%c. A price increase of 1% will reduce quantity demanded by 1/4%d. A price decrease of 1% will reduce quantity demanded by 1/4%
Business
1 answer:
andrew11 [14]3 years ago
5 0

Answer:

A price increase of 1% will reduce quantity demanded by 4%

Explanation:

If the price elasticity is 4 then, this demand is highly responsive to changes in price.

So it will decrease by more than the price increase.

we must remember that the price-elasticity is determinate  like:

↓QD / ΔP   = price-elasticity

if the cofficient is 4 then a 1% increase in price:

↓QD / 0.01 = 4

↓QD = 0.04

Quantity demanded will decrease by 4%

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8 0
3 years ago
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received
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Answer:

$14,960

Explanation:

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8 0
3 years ago
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7 0
2 years ago
A "foreign bond" issue is
cupoosta [38]

Answer:

d. both b and c

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Explanation:

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Let me know how this works out.
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3 years ago
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