A steeper supply curve is more likely to be (a) Price elastic (b) Unit Price Elastic (c) Price Inelastic (d) None of the above

The demand for watermelon is represented as Qd= 10 −0.5P .(a) What is the price elasticity of demand when price is $16?(b) At $16 is watermelon elastic, inelastic, or unit elastic?

Under what demand conditions will there be no rise in price? a) zero elasticity b) infinite elasticity c)unit elasticity d)all the above

Q) The quantity demanded or product X has increased by 10% in response to a 15% increase in price of product Y. Calculate the cross elasticity of demand and tell whether the product pair is (a) Voltas AC and Videocon AC or (b) Cars and Petrol and what you suggest for strategies the pricing policy.

Use the point method the price elasticity of demand for the demand curve P=200-2Q, when P=30 is A)3 B)0.188 C)12 D)0.333 E)0.75

The following is a demand schedule for good Z. Price per unit (£) 10 15 20 25 30 Q demanded per week 30 25 15 10 (a) Plot the demand curve for good Z to show it is linear. (b) (i) Calculate price elasticity of demand (PED) for an increase in price from £5 to £10. Is demand elastic or inelastic? (ii) Calculate price elasticity of demand (PED) for an increase in price from £20 to £25. Is demand elastic or inelastic? (iii) Using your results of parts (i) and (ii), explain what happens to PED along a straight-line demand curve. (c) Explain, using diagrams, the relationship between price elasticity of demand and profits. E Please select file(s) Select file(s) 20

Price elasticity of supply (PES):   Range of values Determinants Time Availability of producer substitutes Costs

The long-run own-price elasticity for corn at the farm level is –0.372. Because of a late freeze in Iowa, corn production is expected fall by 16 percent. Regional corn prices are likely to:

Which among the following is true regarding price elasticity of supply? Select one: a) The elasticity of supply does not vary directly with the amount of time producers have to respond to the price change b) The equilbrium price in short run is same as the equilbrium price in market period c) The equilbrium price in short run is  lower than the equilbrium price in market period d) The equilbrium price in short run is higher than the equilbrium price in market period e) None of the answers are correct

With regard to elasticities of demand: Group of answer choices: A) price elasticity should actually be the sole basis for pricing decisions. B) price elasticity = % change in price divided by % change in quantity. C) price increases result in revenue increases if demand is price inelastic. D) price decreases result in revenue decreases if demand is price elastic.