To Ensure That We Get the Same Result for Price

question 176

Multiple Choice

To ensure that we get the same result for price elasticity no matter which direction we move on the demand curve, we must take the average of the

• A)initial price and the initial quantity demanded and the average of the new price and the new quantity demanded
• B)new price and the initial quantity demanded and the average of the new quantity demanded and the initial price
• C)initial price and the new price and the average of the initial quantity demanded and the new quantity demanded
• D)initial price and the new price only
• E)new quantity demanded and the initial quantity demanded only

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Definitions:

Motivation

The reason or reasons one has for acting or behaving in a particular way; the drive to achieve goals.

Performance

A measure of how well an individual, group, or system operates or accomplishes a given task or objective.

Reward

A reward is a benefit, often in the form of goods, services, or recognition, given in response to one's actions, achievements, or behavior as an incentive or acknowledgment.

Benefits

Advantages or positive outcomes derived from a particular action or situation.