If the Price of a Good Decreases by 5 Percent

question 17

Multiple Choice

If the price of a good decreases by 5 percent and total revenue does not change, then the price elasticity of demand is

• A)perfectly elastic.
• B)unit elastic.
• C)equal to 0.5.
• D)equal to 1.05.
• E)perfectly inelastic.

Understand the purpose and application of recolor effects in adjusting picture hues.

Grasp the concept of object stacking and how to manipulate the order of objects.

Comprehend the alignment options available for text within a paragraph.

Recognize the different viewing modes available in PowerPoint and their uses.

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Definitions:

Annual Interest Rate

The percentage of interest that will be charged or earned on a principal amount over the course of a year.

Face Value

The nominal value or dollar value printed on a security or a financial instrument, such as a bond or a stock certificate.

Market Rate

The prevailing interest rate available in the marketplace for instruments of similar risk and maturity.

Contract Rate

The predetermined fee or rate agreed upon in a contract for services rendered or goods sold.