price elasticity of demand, Microeconomics

Suppose the price elasticity of demand for extra dark chocolate truffles is -6. Hold other things constant , if price for Extra Dark Chocolate truffles is decrease by 3%, what will quantity of demand be?
Posted Date: 9/14/2012 12:40:54 PM | Location : United States







Related Discussions:- price elasticity of demand, Assignment Help, Ask Question on price elasticity of demand, Get Answer, Expert's Help, price elasticity of demand Discussions

Write discussion on price elasticity of demand
Your posts are moderated
Related Questions
Rework figure 1 assuming a closed economy

Problem 1: a) Explain the different types of unemployment that exist. b) Critically examine how monetary policy can be used to deal with inflation. c) Critically examine

In John Stossel's article, "In Praise of Price Gouging", Stossel argues that a law banning price gouging would result in a two-block line for gasoline after Superstorm Sandy. a.


americana is a small country that produces and consumes jelly beans. The world price of jelly beans is $1 per bag, americana''s demand and supply for jelly beans are governed by th

Separate Administrative Set-up for Exports:   It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO)

Johnson Farms owns valuable farm land that allows it to produce wheat at a lower cost than its competitors. The company reports large profits each year on its accounting statements


Why narrowness of definition of a commodity may influence price elasticity of demand

1. Using personal (work) experience or examples found from companies you research or from text book scenarios: a.  Give an example of at least two "conflicting measurements" bei