Social Studies

2nd -

3rdgrade

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Elasticity

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15 questions

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  • 1. Multiple Choice
    10 seconds
    1 pt

    If P = $10 for Tiny Tee-shirts, Q = 20, but if P = $5, Q = 25. The price elasticity of demand for Tiny Tee-shirts is:

    3.0.

    1/3

    1/2

    21

  • 2. Multiple Choice
    10 seconds
    1 pt

    If the price of Kellogg's Corn Flakes goes up from $1.89 to $2.05 and quantity demanded changes from 250 to 210, then the price elasticity of demand would be:

    0.47

    0.02

    250

    2.14

  • 3. Multiple Choice
    10 seconds
    1 pt

    Alyssa’s Floral Shoppe dropped its prices for a dozen roses from $45 to $35 this year. Because of this decrease in price, the quantity sold increased from 1000 to 1500. The price elasticity of demand for Alyssa’s roses is:

    1.00.

    1.6.

    0.625.

    2.25

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