The price elasticity of demand is 1.2. Is demand elastic or inelastic?
Question:
The price elasticity of demand is −1.2. Is demand elastic or inelastic?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
If the price elasticity of demand is 12 then demand is elastic Elasticity of demand measures how res...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The diagram below depicts the demand curve for "mini burgers" in a local fast-food market. Use the information in this diagram to answer the questions that follow. a. What is the price elasticity of...
-
Use the table below to answer the following questions: Microeconomic Problems 1. Given the simple demand schedule information in the table above, calculate the coefficient of price elasticity of...
-
The demand curve for a product is given by Q x = 1,000 2Px + .02Pz, where Pz = $400. a. What is the own price elasticity of demand when Px = $154? Is demand elastic or inelastic at this price? What...
-
Write a BST client that uses the data file ip-tocountry.csv found on the booksite to determine the source country of a given IP address. The data file has five fields: beginning of IP address range,...
-
What are the primary differences between operating and financial synergy? Give examples to illustrate your statements.
-
Under what conditions can an effectuation-based process be more successful than a causation-based process?
-
How can the auditor estimate the expected popu!ation occurrence rate?
-
Joint Cost Allocation, processing further and ethics. Unified Chemical Company has a joint production process that converts Zeta into two chemicals: Alpha and Beta. The company purchases Zeta for $12...
-
Distinguish between personal selling and sales promotions and which you would use to increase sales of the following products. Products: Farm equipment Toyotas Calvin Klein
-
Why are elasticities useful for managers?
-
Per capita income in the county was $45,000, and physician visits averaged 5.0 per person per year. Per capita income has risen to $49,500. The income elasticity of demand for visits is 0.4. By what...
-
Draw structures corresponding to the following IUPAC names: (a) cis-1, 2-Cyclohexanedicarboxylic acid (b) Heptanedioic acid (c) 2-Hexen-4-ynoic acid (d) 4-Ethyl-2-propylocatanoic acid (e)...
-
A 700 g ball strikes a wall at 15.1 m/s and rebounds at 14.4 m/s. The ball is in contact with the wall for 0.034 s. What is the magnitude of the average force acting on the ball during the collision?...
-
On August 30, JumpStart paid the following expenses: August rent, $2,300 August's utility bill, $525 Employee wages, $1,750 Parking lot cleaning fee, $27 Journalize these payments as one journal...
-
1. What is difference between Torque and Force? Explain with one example of each. 2. What is difference between linear momentum and angular momentum? Explain with one example of each. 3(a) What is...
-
Your client has just received an IRS summons to appear for an interview as a witness. Describe, in general, what will occur. 8.Can a taxpayer challenge a summons? 9.Your client has just received a...
-
For the current year, the following data were taken from the accounting records: Sales, $900,000; Sales Returns and Allowances, $30,000; Purchases, $500,000; Purchase Returns and Allowances, $8,000;...
-
The table below includes results from polygraph (lie detector) experiments conducted by researchers Charles R. Honts (Boise State University) and Gordon H. Barland (Department of Defense Polygraph...
-
Suppose that the electrical potential at the point (x, y, z) is E(x, y, z) = x + y - 2z. What is the direction of the acceleration at the point (1,3,2)?
-
The construction time for a bridge depends on weather conditions. The project is expected to take 250 days if the weather is dry and the temperature is hot. If the weather is damp and cool, the...
-
You recently had an auto accident that was your fault. If you have another accident or receive another moving violation within the next 3 years, you will become part of the "assigned risk" pool, and...
-
Two instructors announced that they "grade on the curve," that is, give a fixed percentage of each of the various letter grades to each of their classes. Their curves are as follows: If a random...
-
How does New Historicism, as a critical framework, alter our understanding of William Shakespeare's plays, especially in terms of reflecting and challenging the societal norms of the Elizabethan era ?
-
) Write the following expression in the form x", assuming x 0. Simplify your answer as much as possible. (x. x9) (x4)3 2 help (formulas) Find the equation of the line passing through the points (-10,...
-
We are evaluating a project that costs $670,000, has a five-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at...
Study smarter with the SolutionInn App