Exhibit 5-2 -Use the Information in Exhibit 5-2 to Calculate the Value

question 230

Multiple Choice

Exhibit 5-2

-Use the information in Exhibit 5-2 to calculate the value of price elasticity of demand.

• A) -2/3
• B) -1/3
• C) -3/5
• D) -5/3
• E) 0

---

Definitions:

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the U.S. Constitution in 1789 due to its inadequacies.

Magna Carta

A document signed in 1215 that established the principle that everyone is subject to the law, even the king, and guaranteed the rights of individuals.

Thomas Jefferson

The third President of the United States (1801–1809), a Founding Father, and the principal author of the Declaration of Independence.