If the Price Elasticity of Earbud Headphones Is -0

question 58

Multiple Choice

If the price elasticity of earbud headphones is -0.3 and price increases 20%,what happens to the quantity of earbud headphones demanded?

• A)quantity decreases by 26%
• B)quantity decreases by 6%
• C)quantity increases by 15%
• D)quantity increases by 21%

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Definitions:

Free and Nonreproducible

Goods or services that are available without cost but cannot be duplicated or created again in the exact form.

Nature

The physical world collectively, including plants, animals, landscapes, and other features and products of the earth as opposed to humans or human creations.

Land Rent

Payment made for the use of land, typically based on its productivity, location, and the competitive demand for land use.

Acres

A unit of measurement used primarily in the U.S. to describe the size of land, equating to 43,560 square feet.