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Elasticity Questions

The document presents various elasticity questions related to price changes and their effects on demand and supply for different products. It includes scenarios such as price increases leading to decreased demand, and price decreases resulting in increased demand. Additionally, it discusses the impact of salary and income changes on the demand for goods.

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sam sun
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10 views1 page

Elasticity Questions

The document presents various elasticity questions related to price changes and their effects on demand and supply for different products. It includes scenarios such as price increases leading to decreased demand, and price decreases resulting in increased demand. Additionally, it discusses the impact of salary and income changes on the demand for goods.

Uploaded by

sam sun
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Elasticity Questions

1. Price of orange increased by 5% and the quantity of demand


decreased by 2%

2. Price of Gum decreased by 50% and the quantity of demand increased


by 5%

3. Price of sugar increased from $6.50 to $7.50 and the coffee demand
decreased from 1000 to 8000

4. Price of orange increased by 15%, and the demand for clementines


increased by 7%

5. Salary increased from $7500 to $8000, used furniture demand


decreased by 7%

6. Salary increased by 7%, new car demand increased by 9%

7. Coffee price increased from $8 to $10, tea demand increased from


1500 to 1700

8. Price of Coffee changed from $10 to $8, the quantity of demand


increased from 13000 to 15000

9. Price of Computer changed from $1200 to $1400, the quantity of


supply increased from 50,000 to 55,000

10. Average income increased by 20%, and the Beef demand


increased from 3,000 ton to 3,400 ton

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