A Good Has a Price Elasticity of Demand Equal to 2.If

question 58

Multiple Choice

A good has a price elasticity of demand equal to 2.If an increase in supply lowers its price from $1.20 to $0.80,the percentage change in quantity demanded is

• A)an increase of 80 percent.
• B)a decrease of 80 percent.
• C)a decrease of 40 percent.
• D)an increase of 2 percent.
• E)an increase of 40 percent.

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Definitions:

Hyperthermia

A medical condition characterized by an abnormally high body temperature due to failed thermoregulation.

Metabolism

Aggregate of all chemical processes that take place in living organisms and result in growth, generation of energy, elimination of wastes, and other functions concerned with the distribution of nutrients in the blood after digestion.

Temporal Artery Thermometer

A device used to measure body temperature by capturing the heat emitted by the temporal artery, located just beneath the skin of the forehead.

Radiant Temperature

The perceived temperature felt from the warmth or coolness of surfaces and objects in an environment, affecting thermal comfort.