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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
Suppose that the elasticity of demand for insulin is 0.1, the elasticity of demand for oranges is 1.2, and the elasticity of supply for insulin and oranges is 0.4. If the government imposes a 10 percent tax on both insulin and oranges, the decrease in the quantity of oranges is ________ the decrease in the quantity of insulin.
A) larger than
B) smaller than
C) equals to
D) not comparable to
E) More information is needed to determine how the decrease in the quantity of oranges compares to the decrease in the quantity of insulin.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 1097 times
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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8 years ago
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Loraine Author
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8 years ago
Thanks for your help!!
kaytee23
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Yesterday
Helped a lot
rene_ram97
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2 hours ago
this is exactly what I needed
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