Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
sinerus sinerus
wrote...
Go to Answer
Posts: 892
Rep: 0 0
6 years ago
Recall the Application. Suppose the price elasticity of demand for gasoline is 0.20 and the price elasticity of supply for gasoline is 0.55. If supply decreases by 50%, the equilibrium price will increase by
A) 67%.
B) 70%.
C) 143%.
D) 150%.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
Read 123 times
3 Replies
Replies
Answer verified by a subject expert
trumpetsoflifetrumpetsoflife
wrote...
#1
Top Poster
Posts: 741
Rep: 5 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

wrote...
#2
6 years ago
Recall the Application. Suppose the price elasticity of demand for gasoline is 0.20 and the price elasticity of supply for gasoline is 0.55. If supply increases by 20%, the equilibrium price will decrease by
A) 27%.
B) 57%.
C) 175%.
D) 375%.
wrote...
#3
6 years ago
A
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1309 People Browsing
 123 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 295
  
 314
  
 44
Your Opinion
Do you believe in global warming?
Votes: 370
Previous poll results: What's your favorite coffee beverage?