1. Social Distance Spa decrease the monthly charge from P1,500 to P1,000, and total revenuewent from P45,000 to P40,000. Thus the elasticity demand is:а.The above is not possible --total revenue must increase.b.20C.d.infiniteе.None of the above2.Which of the following goods likely to have a price elasticity of demand more than one?а.Ethyl Alcoholb.RiceС.WineVirgin Coconut oilDiapersd.е.3. In economics, elasticity:is a characteristic of a candy bar.refers to volatile prices.depict the strength of the relationship between the two products.pertain to the effect of a change in the quantity demanded on price.а.b.С.d.4. Suppose the price of isopropyl alcohol decrease from P50 to P30 and the quantitydemanded increases from 500 to 720 per week then the demand elasticity coefficient is:NCITа.0.82b.1OMNIAVERITC.1.22d.1.25DAVAD CITYе.1.55.From the following groups of goods, which do you think most have a high-income elasticity?Bread, rice, and peanut butter.Beer, wine, and cigarettes.а.b.Spa, chocolate, and milkshakes.Coffee, Cup of noodles, and crackers.C.d.MIND

When the price decrease from $1500 to $1000 then the Revenue decreases from $45000 to $40000. We…

1. Social Distance Spa decrease the monthly charge from P1,500 to P1,000, and total revenue went from P45,000 to P40,000. Thus the elasticity demand is: а. The above is not possible -- total revenue must increase. b. 20 C. d. infinite TY е. None of the above

1. Social Distance Spa decrease the monthly charge from P1,500 to P1,000, and total revenue went from P45,000 to P40,000. Thus the elasticity demand is: а. The above is not possible -- total revenue must increase. b. 20 C. d. infinite TY е. None of the above

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 8E: The Stopdecay Company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per...

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Question

1. Social Distance Spa decrease the monthly charge from P1,500 to P1,000, and total revenue
went from P45,000 to P40,000. Thus the elasticity demand is:
а.
The above is not possible --total revenue must increase.
b.
20
C.
d.
infinite
е.
None of the above
2.
Which of the following goods likely to have a price elasticity of demand more than one?
а.
Ethyl Alcohol
b.
Rice
С.
Wine
Virgin Coconut oil
Diapers
d.
е.
3. In economics, elasticity:
is a characteristic of a candy bar.
refers to volatile prices.
depict the strength of the relationship between the two products.
pertain to the effect of a change in the quantity demanded on price.
а.
b.
С.
d.
4. Suppose the price of isopropyl alcohol decrease from P50 to P30 and the quantity
demanded increases from 500 to 720 per week then the demand elasticity coefficient is:
NCIT
а.
0.82
b.
1
OMNIA
VERIT
C.
1.22
d.
1.25
DAVAD CITY
е.
1.5
5.
From the following groups of goods, which do you think most have a high-income elasticity?
Bread, rice, and peanut butter.
Beer, wine, and cigarettes.
а.
b.
Spa, chocolate, and milkshakes.
Coffee, Cup of noodles, and crackers.
C.
d.
MIND

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