Question
A shift of the supply curve of oil raises the price from
$10 a barrel to $15 a barrel and reduces the quantity demanded from 40 million to 15 million barrels a day. You can conclude that theSolution
When percentage change in quantity demanded is greater than the percentage change in own price of commodity, demand is said to be elastic.
More Econometrics Questions
1885 ÷ 64.98 + 7.29 + ? = 69.09
212 + 14 × 23 – 28 × 15 = ? Â
(22² × 8²) ÷ (92.4 ÷ 4.2) =? × 32
567-4824 ÷ 134 =? × 9
Determine the value of 'p' in the expression.
28 ÷ 22p + 1 = 43Â
What will come in place of (?) in the given expression.
(15) ² - (13) ² = ?? = 6.25% of 240 + 25 2 + 17 2 – 16 × 17
35% of 840 + 162 = ? – 25% × 300
(7/5) × (3/4) × (5/9) × (6/7) × 3112 = ?
1024 ÷ 16 + 800 ÷ √64 + ? = 200 * 2
