If the elasticity of demand for a commodity by Prof. Frank Levy

Question 6 / 43: If the elasticity of demand for a commodity is estimated to be 1.5, then a decrease in

price from $2.10 to $1.90 would be expected to increase daily sales by:

A 50%

B 1.5%

C 5%

D 15%

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Microeconomics Practice MCQ

Author:

Prof.Frank LevyLecturer

Harvard Medical School

USA

Access: Public Instant Grading

Attribution: Levy, Frank. 11.203 Microeconomics, Fall 2010. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-203-microeconomics-fall-2010 (Accessed 13 Mar, 2014). License: Creative Commons BY-NC-SA

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