# Dif 1 ref 5 1 nat analytic loc elasticity top

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DIF:1REF:5-1NAT:AnalyticLOC:ElasticityTOP:Inelastic demandMSC:Definitional83.Demand is said to be inelastic if thea.quantity demanded changes proportionately more than price.b.price changes proportionately more than income.c.quantity demanded changes proportionately less than price.d.quantity demanded changes proportionately the same as price.ANS:CDIF:2REF:5-1
NAT:AnalyticLOC:ElasticityTOP:Inelastic demandMSC:Definitional84.If the price elasticity of demand is 1.5, regardless of which two points on the demand curve are usedto compute the elasticity, thenDIF:3REF:5-1
NAT:AnalyticLOC:ElasticityTOP:Price elasticity of demandMSC:ApplicativeTable 5-3The following table shows the demand schedule for a particular good.PriceQuantity\$150\$125\$910\$615\$320\$02585.Refer to Table 5-3.Using the midpoint method, what is the price elasticity of demand when pricerises from \$9 to \$12?DIF:2REF:5-1
NAT:AnalyticLOC:ElasticityTOP:Midpoint method| Price elasticity of demandMSC:AnalyticalThis edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied,or distributed without the prior consent of the publisher.
315Chapter 5 /Elasticity and Its Application86.Refer to Table 5-3.Using the midpoint method, when price rises from \$6 to \$9, the price elasticityof demand isDIF:2REF:5-1
NAT:AnalyticLOC:ElasticityTOP:Midpoint method| Price elasticity of demandMSC:Analytical87.Refer to Table 5-3.Using the midpoint method, when price falls from \$6 to \$3, the price elasticityof demand isa.0.43b.0.67c.1.50d.2.33ANS:A

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Term
Fall
Professor
ashraf ibrahim