--%>

Demand when coefficient of price elasticity given

When the coefficient of price elasticity for eggs is 0.67, in that case the demand for eggs is: (w) relatively elastic. (x) relatively inelastic. (y) an upward sloping demand. (z) a horizontal demand.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Economics like a social science Why is

    Why is economics seen like a social science?

  • Q : Constant cost industries In

    In constant-cost, the purely competitive industries: (w) total cost is constant at every output. (x) marginal cost is constant at each output. (y) number of firms is constant at every output. (z) long-run supply price is uninfluenced by output. <

  • Q : Firm under perfect competition The firm

    The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an

  • Q : Long-run supply curve in constant cost

    When cranberries are a constant cost industry and that firm is typical, in that case the industry’s long-run supply curve is curve as: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E.

    Q : Earn zero economic profit by

    When a monopolistic competitor is earning zero economic profit, in that case this: (1) sells at a price equal to average total cost. (2) sells at a price equal to marginal cost. (3) is at the minimum point on its average total cost cu

  • Q : Substitution effects resulting from

    The Law of Demand mainly relies heavily on the: (1) Buying power consequences of relative price modifications. (2) Substitution effect resultant from the relative price changes. (3) Increase in opportunity costs as income is worn out. (4) Principle of the non satiety.

  • Q : Monopsonistic exploitation-labor union

    The labor union contracts, a comparable worth rule, or minimum salary laws might boost up equilibrium employment when a firm has been practicing: (i) Price discrimination. (ii) Monopolistic exploitation. (iii) Feather-bedding. (iv) Blacklisting. (v) Monopsonistic expl

  • Q : Income distribution line in Lorenz curve

    When line 0C0' shows the 1975 U.S. income distribution, in that case the 2005 income distribution would most likely be most probable: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

  • Q : Analytic time in market structure In

    In this figure the firm probably to go out of business the soonest would be as: (w) Firm A. (x) Firm B. (y) Firm C. (z) Firm D. 298_Market Str</span></p>
                                        </div>
                                        <!-- /comment-box -->
                                    </li>
   
   </td>
	</tr><tr>
		<td>
       
      <li>
                                        <div class=

    Q : Problem Based on Economic Rent Location

    Location or site rents are as: (w) unrelated to the geographic location of a firm in a market. (x) determined from the fertility of land. (y) generated while a firm’s location allows this to charge more for its output or to pay less for its inpu