Answer to Question #85240 in Microeconomics for Muuhammad Rabiu

Question #85240

How did money affect the economy of ancient Greece?

Expert's answer

E_d^p=((Q2-Q1)/((Q2+Q1)/2))/((P2-P1)/((P2+P1)/2))=((2000-1500)/((2000+1500)/2))/((20-25)/((20+25)/2))=0.29/(-0.22)=-1.29

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. If the demand curve is Q(p) = p^a (where a < 0), what is the elasticity of demand? If the margina
2. You operate a car-retailing business with a fixed amount of machinery (capital), but you have recen
3. Assume that the average product for six workers is 15. If the marginal product of the seventh worke
4. Each point on the long-run average cost curve is a … 1. minimum point on some short-run average
5. A firm producing five units of output has an average total cost of R100 and has to pay R150 to its
6. If the total cost is R750 and the average fixed cost is R15 when 30 units of output are produced, t
7. The substitution effect of a price decrease for a good with a normal indifference curve pattern …