The Price Elasticity of Demand Is Equal to

question 5

Multiple Choice

The price elasticity of demand is equal to

• A)The percentage change in quantity demanded times the percentage change in price.
• B)The unit change in price divided by the unit change in quantity demanded.
• C)The percentage change in quantity demanded divided by the percentage change in price.
• D)The unit change in quantity demanded times the unit change in price.

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Definitions:

Careless and Irresponsible

Exhibiting a lack of concern or attention to duties and obligations, often resulting in harm or risk.

Conscientiousness

A personality trait characterized by diligence, carefulness, and the desire to do a task well, often associated with high levels of responsibility.

Big Five Personality Traits

are five broad dimensions of personality used to describe human character traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Responsible, Dependable, Careful

describes attributes of an individual who is reliable, can be trusted to complete tasks, and takes precautions to avoid mistakes.