Suppose a $1 Change in the Price of a Good

question 18

Multiple Choice

Suppose a $1 change in the price of a good results in the quantity demanded changing by .2 percent.Then you know

• A)the price elasticity of demand is 1/5.
• B)nothing about slope or price elasticity of demand based on this information.
• C)the price elasticity of demand is 5.
• D)the slope of the demand curve is 5.
• E)the slope of the demand curve is 1/5.

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Definitions:

Assertive/Unassertive

Assertiveness refers to confidently expressing one's opinions and needs directly and respectfully, while unassertiveness characterizes a lack of confidence or reluctance in expressing one's views.

Friendly/Unfriendly

Attributes describing the nature of interpersonal interactions or environments, with friendly implying warmth and kindness, and unfriendly suggesting hostility or coldness.

Dominance/Submission

Patterns of behavior in social interactions where one individual asserts control or influence over another, which may be accepted or contested by the subordinate.

SYMLOG Subscale

Stands for Systematic Multiple Level Observation of Groups subscale, a methodological tool used to assess and categorize behaviors within group interactions.