Gold Buyers Are Located in New York and Zurich

question 60

Multiple Choice

Gold buyers are located in New York and Zurich. If the price of gold is $400 an ounce, the worldwide demand for gold is 10,000 ounces. Also, the price elasticity of demand for gold in New York and Zurich are -3 and -2 respectively. If the slope of each demand curve in New York is the same as in Zurich, then the quantity of gold demanded by dealers in Zurich is

• A) 10,000/3.
• B) 5,000.
• C) 6,000.
• D) 10,000.
• E) none of the above

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Definitions:

Compound Name

The official or systemic name given to a chemical compound based on its structure and composition.

Mass Spectrum

A chart that shows the distribution of masses of atoms, molecules, or fragments, used to determine the chemical composition of a sample.

Base Peak

In mass spectrometry, the most intense peak in the spectrum, corresponding to the most stable and abundant ion.

M-nitrophenol

A chemical compound that is a derivative of phenol, featuring a nitro group in the meta position relative to the hydroxyl group, used in the production of dyes, drugs, and explosives.