If a 3 Percent Change in Price Results in a 1.5

question 29

Multiple Choice

If a 3 percent change in price results in a 1.5 percent change in quantity demanded, then the price elasticity of demand is ____ and demand is ____.

• A)1/2; inelastic
• B)1/2; elastic
• C)2; inelastic
• D)1; unit elastic
• E)2; elastic

---

Definitions:

Human Impact

The effects and consequences of human activities on the environment and its natural processes.

Photochemical Smog

Mixture of several air pollutants that injure plant tissues, irritate eyes, and cause respiratory problems in humans.

Nucleic Acids

Essential biomolecules for life, such as DNA and RNA, are responsible for carrying genetic information and participating in the synthesis of proteins.

Nitrogen

A chemical element with symbol N and atomic number 7, essential for all living organisms, primarily involved in protein synthesis and other vital biological processes.