When the Price of a Good Increases by 5 Percent,the

question 164

Multiple Choice

When the price of a good increases by 5 percent,the quantity demanded decreases by 10 percent.The price elasticity of demand is ________.A price rise will ________ total revenue.

• A)2.0;decrease
• B)0.5;decrease
• C)2.0;increase
• D)0.5;increase
• E)-2.0;decrease

---

Definitions:

Supply Chain Networks

Complex systems of supply chain partners, including suppliers, manufacturers, distributors, and retailers, interconnected to efficiently deliver products and services.

Multiple Metrics

The use of various measurements and indicators to assess performance, manage risk, or guide decision-making in a comprehensive manner.

Evaluation

The systematic determination of a subject's merit, worth and significance, using criteria governed by a set of standards.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.