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When a product is elastic and the price increases with 2%. Then the demand will........

A

decreases with more than 2%

B

decreases with less than 2%

C

increases with more than 2%

D

increases with less than 2%

1. The price drops with 10%, demand increases with 20%. What is the elasticity?

A

Ed = -2
Inelastic

B

Ed = -2
Elastic

C

Ed = -0,5
Inelastic

D

Ed = -0,5
Elastic

2. A price increases with 10%. The elasticity is -1. What is the change of the demand?

A

Decreases with 1%

B

Decreases with 10%

C

Increases by 1%

D

Increases by 10%

3. Price drops with 5%.

The elasticity of the demand is -2.

By what percentage will the demand change?

The elasticity of the demand is -2.

By what percentage will the demand change?

A

Increases with 10%

B

Increases with 2,5%

C

Decreases with 2,5%

D

Decreases with 10%

4. A product is inelastic. The price decreases. What will happen with the demand?

A

The demand will increase with a bigger percentage than the change of the price

B

The demand will increase with a smaller percentage than the change of the price

C

The demand will decrease with a bigger percentage than the change of the price

D

The demand will decrease with a smaller percentage than the change of the price

5. Elasticity is -3. The demand increases by 15%. By what percentage has the price been decreased?

A

3%

B

5%

C

15%

D

45%

Qd = -50p + 1.000

Price increases from €4 to €5

What is the price elasticity?

Price increases from €4 to €5

What is the price elasticity?

The elasticity is -2. The price increases with 10%. The old quantity demand was 20.000. What is the new quantity demand?

A

16.000

B

18.000

C

22.000

D

24.000

Elasticity is -0,5. The quantity demand had been increased with 10%. The old price was € 25. What is the price now?

A

€ 20

B

€ 23,75

C

€ 27,50

D

€ 30

Elasticity is -0,2.

The price has been decreased by 5%.

The new quantity demand is 1000.

What was the old quantity demanded?

The price has been decreased by 5%.

The new quantity demand is 1000.

What was the old quantity demanded?

A

950

B

952

C

900

D

990

Turnover was € 10.000

Old price was € 5; The price has decreased with 10%

Elasticity -4

What is the new turn over?

Old price was € 5; The price has decreased with 10%

Elasticity -4

What is the new turn over?

A

€ 9.000

B

€ 12.500

C

€ 12.600

D

€ 14.000