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ECO 561 WEEK 6 KNOWLEDGE CHECK
Category : Economics
Posted on 10/14/2014 at 8:21:45 PM
 
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ECO 561 WEEK 6 KNOWLEDGE CHECK (6/6 SOLUTION)
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Posted on 10/14/2014 at 8:21:45 PM
 
Posted By : Bestmind
   
 
A:
1. If the demand curve is QD = 100 – 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is A. -0.25 B. -0.75 C. -0.50 D. -0.30 2. If the absolute value of a demand elasticity is less than 1, then A. the demand

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