Thursday
November 27, 2014

Homework Help: economics

Posted by Anonymous on Thursday, August 5, 2010 at 8:22pm.

The price elasticity of demand for imported whiskey is estimated to be -0.20 over a wide interval of prices. The federal government decides to raise the import tariff on foreign whiskey, causing its price to rise by 20 percent. Will sales of whiskey rise or fall, and by what percentage amount?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

economics - The price elasticity of demand for imported whiskey is estimated to ...
managerial econ - The price elasticity of demand for imported whiskey is ...
economincs - The price elasticity of demand for imported whiskey is estimated to...
managerial economics - 4. The equation for a demand curve has been estimated to ...
Managerial ECON - Suppose that during a given year: (1) the price of TV sets ...
economics - suppose the demand curve for a product is given by Q=10-2P+Ps1,where...
economics. urgent - Assuming that shoes have a world price of US$60 a pair, that...
Econ - Coca-Cola in dispensers located on a golf course sells for $1.25 a can, ...
Microeconomics - The producer of X is contemplating a price change and has asked...
Economics - Very confused on how to figure these out. Suppose that the following...

Search
Members