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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
When the price of earrings increases by 4%, the quantity demanded of earrings falls by 8%. Which of the following statements is true?
A) Elasticity = 2 and earrings are inelastic.
B) Elasticity = 0.5 and earrings are elastic.
C) Elasticity = 2 and earrings are elastic.
D) Elasticity = 0.5 and earrings are inelastic.
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kingbykingby
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#1
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Posts: 3218
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7 years ago
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#2
7 years ago
Incredible!
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#3
7 years ago
Great! Now we can move on to the next one
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