33. Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week Go 97,000 gallons per week as a consequence of a 10 per cent increase in the price of Pepsi. The price elasticity of demand din absolute valuê) is: a. 1.66. b. 6.00. (93c00 - 10300) O+0):2) O 0.60. d. 1.40. 10

33. Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week Go 97,000 gallons per week as a consequence of a 10 per cent increase in the price of Pepsi. The price elasticity of demand din absolute valuê) is: a. 1.66. b. 6.00. (93c00 - 10300) O+0):2) O 0.60. d. 1.40. 10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q33

33. Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week
Go 97,000 gallons per week as a consequence of a 10 per cent increase in the price of
Pepsi. The price elasticity of demand din absolute valuê) is:
a. 1.66.
b. 6.00.
(93c00 - 10300) O+0):2)
O 0.60.
d. 1.40.
10

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