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    jordanbledsoe's Avatar
    jordanbledsoe Posts: 3, Reputation: 1
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    #1

    Feb 3, 2015, 03:07 PM
    A price elasticity of demand for Good X equal to -.85 implies
    A. if price increases by $1.00, quantity demanded will decrease by .85.
    B. if price decreases by $0.85, quantity demanded will increase by 1.
    C. a price of $1.00 will result in sales increase of .85 units.
    D. if price increases by 1%, quantity demanded will decrease by .85%.
    E. if price increases by 1%, demand will decrease by .85%.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Feb 3, 2015, 03:07 PM
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