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Home Q & A Board Other Fields Homework Help Business Economics
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Sublight2097 Sublight2097
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Posts: 4132
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8 years ago
Suppose the quantity demanded of cigarette cartons falls by 5% when prices are increased by 100%. The price elasticity of demand for cigarettes is
A) elastic and equal to 0.05.
B) inelastic and equal to 0.05.
C) elastic and equal to 20.
D) inelastic and equal to 20.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
I've noticed they use a lot of trickery with their questions. Thank you for your input.
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#3
8 years ago
Another success story!

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