Intellectual Olympiad in Economics - 2026 ongoing

Subject: Economics
Level: VIII
Category: student
Quiz questions: in English
Example question: A firm faces price elasticity of demand equal to −2.5. If it reduces its price by 4%, what is the approximate effect on quantity demanded, assuming elasticity remains constant? Quantity demanded falls by 1.6%, Quantity demanded rises by 10%, Quantity demanded rises by 6.25%, Quantity demanded falls by 10%