Suppose a 1 Percent in the Price of a Good

question 173

Multiple Choice

Suppose a 1 percent in the price of a good results in the quantity demanded changing by 0.2 percent. Then you know

• A)the price elasticity of demand is 0.2.
• B)nothing about slope or price elasticity of demand based on this information.
• C)the price elasticity of demand is 5.
• D)the slope of the demand curve is 5.
• E)the slope of the demand curve is 0.2.

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Definitions:

Trimethylaziridine

A chemical compound characterized by a three-membered ring structure containing nitrogen and three methyl groups.

Enantiomers

Mirror-image molecules that are non-superimposable, differing in the spatial arrangement of atoms, commonly affecting their chemical behavior in a chiral environment.

Basicity

A measure of the ability of a compound to act as a base and accept protons.

Aniline

An organic compound with the formula C6H5NH2, a primary amine derived from benzene, used in the manufacture of dyes, drugs, and plastics.