The Point Price Elasticity of Demand for Red Herring Is

question 55

Multiple Choice

The point price elasticity of demand for red herring is -4. The demand curve for red herring is: Q = 120 - P. What is the price of red herring?

• A) $96
• B) $80
• C) $100
• D) $120
• E) none of the above

---

Definitions:

On-the-job Training

Instruction and training provided to employees at their place of work while they are performing their job duties.

Teenagers

Young individuals typically between the ages of 13 and 19, undergoing the transition from childhood to adulthood.

Demand for Bicycles

The consumer interest and willingness to buy bicycles, which can be influenced by factors like environmental concerns, health awareness, and economic conditions.

Wages

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee.