If Demand for Socks Is Given by the Equation P

question 37

Multiple Choice

If demand for socks is given by the equation P = 32 - 5Q,the price elasticity of demand when P = $2 is

• A) 5.
• B) 2.
• C) 0.5.
• D) 0.2.
• E) 0.067.

---

Definitions:

Job Design

The process of organizing tasks, duties, and responsibilities into a productive work unit within an organization.

Cost of Capital

The rate of return a company must earn on its investment projects to maintain its market value and attract funds.

Integration

The process of combining or coordinating separate elements or groups into a unified whole, often seen in social, technological, and business contexts.

Authority

The competency to order, determine outcomes, and demand conformity.