The Percentage Change in the Demand for Film Divided by the Percentage

question 12

Multiple Choice

The percentage change in the demand for film divided by the percentage change in the price of cameras indicates

• A)the cross-price elasticity of demand between film and cameras
• B)the cross-price elasticity of demand for photographs
• C)the price elasticity of demand for film
• D)the price elasticity of demand for cameras
• E)nothing because the two goods fall into the broadly defined category of photographic equipment

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Definitions:

Union Density

Represents the percentage of workers in a specific sector or country that are members of labor unions.

U.S. Union

Labor organizations in the United States that represent the collective interests of workers in various industries and advocate for their rights.

Private and Public Sectors

The division of the economy into two parts; the private sector involves businesses owned by individuals or companies, and the public sector involves organizations owned and operated by the government.

Union Density

The ratio of unionized workers to the total number of workers, indicating the prevalence of union membership within a particular labor market.