The Price Elasticity of Demand

question 36

Multiple Choice

The price elasticity of demand

• A)is of no use to producers
• B)tells producers what will happen to total profit if they change product price
• C)tells producers what will happen to quantity supplied if they change product price
• D)tells producers what will happen to total revenue if they change product price
• E)tells producers what will happen to price in the following time period

---

Definitions:

Isthmus Of Panama

A narrow strip of land connecting North and South America, with the Caribbean Sea to the east and the Pacific Ocean to the west.

Sympatric Speciation

The process by which new species evolve from a single ancestral species while inhabiting the same geographic region.

Sister Groups

The two lineages that emerge from a node on a cladogram.

Hardy-Weinberg Equation

A principle used in genetics to calculate the frequency of alleles and genotypes in a population's gene pool under ideal conditions.