Suppose the Quantity of Gasoline Is Measured in Litres and the Price

question 64

Multiple Choice

Suppose the quantity of gasoline is measured in litres and the price of gasoline is measured in dollars.The price elasticity of demand is 0.67.If the price of gasoline is then measured in cents rather than in dollars,the price elasticity of demand would be

• A)6.7.
• B)67.0.
• C)0.67.
• D)0.0067.
• E)negative.

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Definitions:

Repatriation

The process of returning an individual to their country of origin or citizenship, often used in the context of employees returning from international assignments.

Cross-Cultural Preparation

Training to prepare employees and their family members for an assignment in a foreign country.

Culture Shock

The sense of confusion, uncertainty, or anxiety experienced by someone exposed to an unfamiliar culture or way of life.

Compensation

Payment or rewards given to employees in exchange for their services or labor.