Question:

Aplia graph analysis help?

by  |  earlier

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screenshots, each link has a different question

http://img142.imageshack.us/img142/3829/ecmn6.jpg

then

http://img55.imageshack.us/img55/4636/ec1vv8.jpg

then

http://img376.imageshack.us/img376/2001/ec2tv1.jpg

then

http://img376.imageshack.us/img376/5848/ec3rq9.jpg

then

http://img376.imageshack.us/img376/5165/ec4tf4.jpg

then

http://img142.imageshack.us/img142/3246/ec5ed5.jpg

ohh and for all countries, do you think the demand for cigarettes is...

Unit Elastic

Elastic

Inelastic

finally

According to the same World Bank study, a 10% increase in the price of cigarettes will lead to an 8% reduction in consumption of cigarettes in low- and middle-income countries. This means that the absolute value of the elasticity of demand in these countries is:

A. 10%

B. 8

C. 0.8

D. 10

E. 0.8%

F. 8%

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   Report

2 ANSWERS


  1. yes.   you are right.  10% increase in the price of cigarettes will lead to an 8% reduction in consumption of cigarettes.


  2. The correct answer is C. 0.8

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