The price of gold increases by 200%. if the price elasticity of demand for gold is 0.4, what will happen in the market?

Question

ithardin3914 ithardin3914

19-06-2018
Business

contestada

The price of gold increases by 200%. if the price elasticity of demand for gold is 0.4, what will happen in the market?

Respuesta :

Otras preguntas

Use your knowledge of alternation of generations to identify labels A–F in the table.

what are the effects of gadgets in students habit

Planet uses the energy from sunlight to create oxygen and glucose from carbon dioxide and water what happens when the changes have occurred

HELP PLEASE I HAVE ONLY A FEW MINUTES TO GET THIS DONE.

________the attribution of a personal nature or human characteristics to something nonhuman, or the representation of an abstract quality in human form

Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $21,500 per year on materials. He

Find the slope of the line through (-1, 9) and (-16, -3)

lcm of x^2+x,x^2-1 and x^2-x

Write a SELECT statement that returns the category_name column from the Categories table. Return one row for each category that has never been assigned to any

What is thermodynamic?

jamuuj jamuuj · Answer 1 · 2018-06-28T07:59:06+02:00

I believe the answer will be that, the Gold sales will decrease by 80%. (200 × 0.4)
Price elasticity is a measure of the change in the quantity demanded or purchased of a product in relation to its price change. It is the percentage change in the quantity demanded of a good or a service divided by the percentage change in the price.
That is; Price elasticity of demand = % change in quantity/% change in price