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Question 27

If the price elasticity of demand for a good is 0.43, an increase in the price of the good will result in

  • A.a net gain
  • B.a decrease in profit by 43%
  • C.a net loss
  • D.an increase in profit by 43%
Objective

Question details

Exam body
NDA
Subject
Economics
Year
2014/2015
Question no.
#27
Type
Objective
Previous · Q26When a generalization is made based on observed facts, it is known as Next · Q28 In a free market economy, the price system allocates resources

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