If the Cross-Price Elasticity Between Good a and Good B

question 108

Multiple Choice

If the cross-price elasticity between Good A and Good B is -1.5 and the percentage change in quantity demanded of Good B is 15 percent,what is the percentage change in the price of Good A?

• A) -10 percent
• B) -0.10 percent
• C) -11.50 percent
• D) -1 percent
• E) 11.50 percent

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Definitions:

Black Panthers

A Black Power political organization founded in 1966 to challenge police brutality against the African American community and advocate for civil rights.

Crowd Behavior

The way in which individuals in a crowd act and react as part of a larger group, often differing from their individual behavior.

Emergent-Norm Theory

A theoretical framework suggesting that in crowd situations, new norms emerge which guide individual behavior, contradicting traditional norms.

Le Bon's Theory

A psychological theory proposed by Gustave Le Bon that explains how an individual in a crowd can lose self-control and become anonymous, leading to behavior that is emotional, irrational, and contagious.