Increment in quantity demanded by price cut

A demand curve has a slope which would be expressed as like $5/ (1 extra ton demanded) when a: (w) 5 % price cut raises quantity demanded by 1 %. (x) $5 price cut increases quantity demanded by 2000 lbs. (y) $5 price hike boosts quantity supplied by 2000 lbs. (z) good has price elasticity of demand equal to 5.

Hey friends please give your opinion for the problem of Economic that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Market supplies of labor in long run

During the long run, the labor supply curve facing a main industry: (w) will always be positively associated to the wage rate. (x) will slope upward only when individual labor supply curves slope upward. (y) can be backward bending at very high wage r

Q : Purely-competitive output by profit

Profit is maximized when this purely-competitive brickyard constructs at: (i) point a. (ii) point b. (iii) point c. (iv) point d. (v) point e.

Q : Determine the market price when demand

When both demand and supply rise within the market for cell phones, we would suppose the market price to: (w) increase. (x) decrease. (y) increase, decrease, or stay similar, depending upon the relative magnitudes of the shifts. (z) s

Q : Cost of inputs in Determinants of demand

I have a problem in economics on Cost of inputs in Determinants of demand. Please help me in the following question. The entire given are determinants of demand apart from. (i) Taxes and preferences. (ii) The cost of inputs. (iii) Price expectations.

Q : Short-run shut-down point for profits

Short-run shut-down point of the cranberry farm occurs at a price of: (i) P1. (ii) P2. (iii) P3. (iv) P4. (v) Not computable from these figures.

Q : Wage Differentials-similar wages Can

Can someone please help me in finding out the accurate answer from the following question. As compared to men with identical amounts of experience or education, women on an average earn: (1) Higher wages. (2) Similar wages. (3) Lower wages. (4) There is no special pat

Q : Price elasticity of demand coefficient

A price elasticity of demand coefficient of infinity implies that: (w) the demand curve is horizontal. (x) each 1 percent price hike elicits a 1 percent increase in revenue. (y) total revenue increases proportionally as a firm increases its price. (z)

Q : Difference between opportunity cost and

Differences among the opportunity cost of a purchase through a consumer and the seller’s price are increased through: (w) taxes. (x) intermediaries. (y) competition. (z) speculators. Can anyb

Q : Problem on Substitution effect for good

One of my friend has a problem on substitution effect. The original equilibrium point (that is utility-maximizing bundle) in the graph shown below is at point A. The price of good Y is increased, pivoting the budget constraint down to its latest level.a. F

Q : Production possibilities analysis Refer

Refer to the given diagram. As it associate to production possibilities analysis, the law of increasing opportunity cost is reflected in curve:1) A 2) B 3) C 4) D

Discover Q & A

Leading Solution Library

Avail More Than 1433540 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1937132
Asked

3,689

Active Tutors

1433540

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment