If the Price of a Burger Decreases by 5 Percent

question 224

Multiple Choice

If the price of a burger decreases by 5 percent and as a result the quantity of burgers demanded increases by 8 percent, the price elasticity of demand equals

• A) 0.60.
• B) 0.40.
• C) 1.60.
• D) 0.625.

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Definitions:

Mesopelagic Zone

A layer of the ocean between 200 and 1,000 meters deep, characterized by dim light, also referred to as the twilight zone, and known for its unique marine life adaptations.

Coral Polyps

Small, soft-bodied organisms that are the primary builders of coral reefs, living in large colonies where they secrete calcium carbonate to form the reef's structure.

Zooxanthellae

Microscopic algae that live symbiotically within the cells of coral and other marine organisms, providing them with nutrients through photosynthesis.

Shoreline

Denotes the edge or boundary where a body of water meets the land, often affected by natural phenomena like tides and erosion as well as human activities.