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Elasticity

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?

Economics Mcqs, Elasticity /
Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?

A. 1.4
B. 0.66
C. 0.75
D. 2.0

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ? Read More »

Economics Mcqs, Elasticity

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

Economics Mcqs, Elasticity /
If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

A. zero
B. infinite
C. one
D. unable to be determined form this information

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ? Read More »

Economics Mcqs, Elasticity

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

Economics Mcqs, Elasticity /
If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

A. income inelastic
B. price inelastic
C. price elastic
D. unit price elastic

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ? Read More »

Economics Mcqs, Elasticity