If the Price of DVDs Falls from $20 to $12

question 80

Multiple Choice

If the price of DVDs falls from $20 to $12 and the quantity of DVDs supplied decreases from 118,000 to 100,000, using the midpoint formula the elasticity of supply equals

• A) 0.33.
• B) 2.94.
• C) -3.08.
• D) 3.08.
• E) 0.23.

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Definitions:

Psychological Construct

An abstract idea or concept that is developed to understand and evaluate mental processes and behaviors.

Resilience

Resilience is the psychological ability of an individual to adapt well in the face of adversity, trauma, tragedy, threats, or significant sources of stress, often enabling personal growth and emotional strength.

High-Risk Approach

A strategy focusing on the prevention or mitigation of risks by identifying and managing those most likely to experience negative outcomes or posses high-risk factors.

Universal Approach

An approach to prevention programs designed to include all individuals in a certain geographical area (for example, the neighbourhood, the city, the province) or a certain setting (for example, school, the workplace, a public housing complex).