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Earn +20 ptsQ: Which percent of change best reflects a price increase from 40 to 45?
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Continue Learning about Math & Arithmetic
What is the percent of change as an increase or a decrease if the original price is 650 and the new price is 806?
650 to 806 is an increase of 24%
A 10 percent increase in the price of sugar reduces sugar consumption by about 5 percent The increase causes households to?
spend more on sugar
What do you think has AA greater effect on the consumer price index a 10 percent increase in the price of chicken or a 10 percent of caviar.why?
Inflation
When the percent change in price is greater than the percent change in quantity demanded demand is said to?
Elastic
What is the price elasticity for a good when there is a 10 percent decrease in price which results in a 2 percent increase in quantity demanded?
2/10=0.2 <1 the good is price inelastic
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