At a Price of $2,the Quantity Demanded for Pens Is

question 107

Multiple Choice

At a price of $2,the quantity demanded for pens is 12.When the price increases to $3,the quantity demanded for pens is 10.The price elasticity of demand for pens is

• A) perfectly inelastic.
• B) inelastic.
• C) horizontal.
• D) elastic.
• E) perfectly elastic.

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Definitions:

Consistently

Acting or behaving in the same way over time, showing steady conformity to the same principles, course, form, etc.

Chronically Underaroused

Describes a condition or state in which an individual consistently exhibits lower than average levels of physiological or psychological arousal.

Norepinephrine Systems

A network of neurons that release the neurotransmitter norepinephrine, involved in regulating stress, alertness, and arousal.

Sensation-Seeking

The pursuit of experiences and feelings that are varied, novel, complex, and intense, as a way to satisfy a personal need for excitement and adventure.