Question

The price of guided tour holidays to India increased by 10% in 2017and the quantity
demanded fell by 4%. Which is true?
A. The price elasticity of demand is 0.4 and elastic
B. The price elasticity of demand is 0.4 and inelastic
C. The price elasticity of demand is 2.5 and elastic
D. The price elasticity of demand is 2.5 and inelastic
4. What does a PES of 0.8 indicate?
A. Supply is perfectly elastic
B. Supply is elastic
C. Supply is inelastic
D. Supply is perfectly inelastic
the quantity that nonducers are willing to supply at different price​

Answer 1

Answer:

Option D

The price elasticity of demand is 2.5 and inelastic

Option B

Supply in elastic

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Answer 2

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1. Options D

2. Options B

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