Economics, finding demand elasticity based on supply elasticity?
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11) Suppose the supply elasticity is 0.6. What must the demand elasticity be? a) - 0.6 b) - 0.9 c) – 0.5 d) – 0.3
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Answer:
a) - 0.6 If it's supply elasticity of demand and demand elasticity of supply, then the plots are mirror images for the same market conditions and so, only the sign of the slope changes.
Henry at Yahoo! Answers Visit the source
Other answers
Really don't know. It depends on the slope of the demand curve. All answers can be true.
Anjaree
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