The quantity of a good demanded rises from by Prof. Frank Levy @Harvard

Question 5 / 43: The quantity of a good demanded rises from 1000 to 1500 units when the price falls

from $1.50 to $1.00 per unit. The price elasticity of demand for this product is approximately:

A 1.0

B .16

C 2.5

D 4.0

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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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