If the Price of Chocolate-Covered Peanuts Decreases from $1

question 188

Multiple Choice

If the price of chocolate-covered peanuts decreases from $1.10 to $0.90 and the quantity demanded does not change, this indicates that, if other things are unchanged, the price elasticity of demand is:

• A) 0.
• B) -0.5.
• C) -1.
• D) -2.

---

Definitions:

Articles of Confederation

The first written constitution of the United States, in effect from 1781 to 1789, before being replaced by the current U.S. Constitution due to its weaknesses.

New System

The introduction or implementation of a different method, structure, or arrangement in a particular context or organization.

Structures of Governments

The organizational framework that dictates how a government is run, including its branches, functions, and distribution of power.

U.S. Constitution

The foundational legal document of the United States, establishing the framework of the federal government, its powers, and the rights of citizens.