Ask a New Question

The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is negative 2.

When the price of the good drops by 10 percent to $18, consumer surplus
A. Increases
B. Decreases
by _ ? (Enter your response to the nearest penny.)

Ask a New Question or answer this question.

Similar Questions

17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good
1. 4 answers
Ceteris paribus, if a 10% increase in income has caused a 20% decrease in the quantity of gas demanded (at the current price),
1. 1 answer
At the present price of $20 per unit, the firm is selling 2000 units of a good. It believes that the price elasticity of demand
1. 0 answers
If the price of a good is below the equilibrium price,a. there is a surplus and the price will rise. b. the quantity demanded is
1. 1 answer

more similar questions