Refer to the Information Provided in Figure 5

question 4

Multiple Choice

Refer to the information provided in Figure 5.2 below to answer the question(s) that follow. Figure 5.2
-Refer to Figure 5.2. If the price of a hamburger decreases from $10 to $6, the price elasticity of demand equals ________. Use the midpoint formula.

• A) -0.5
• B) -2.0
• C) -20
• D) -200

---

Definitions:

Accounts Used

Specific accounts utilized in accounting to record and track financial transactions.

Equity

The value of an asset after deducting the amount of liabilities or the ownership interest in a company.

Revenues

Sum of income from the primary business activities of a company, which includes sales of its products or services.

Unearned Revenues

Money received by a company for goods or services that have yet to be delivered or performed, considered a liability until earned.