The Table Below Shows the Demand Schedule for Museum Admissions

question 21

Multiple Choice

The table below shows the demand schedule for museum admissions in a small city.
TABLE 4-1
-Refer to Table 4-1.Between the prices of $2 and $4 the price elasticity of demand is

• A)1/3.
• B)2/3.
• C)1.
• D)2.
• E)3.

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Definitions:

Virginia Plan

Virginia’s delegation to the Constitutional Convention’s plan for a strong central government and a two-house legislature apportioned by population.

Two-House Legislature

A bicameral legislative system consisting of two separate chambers or houses, typically a lower house and an upper house, for the purpose of law-making.

Population

The number of individuals living in a specific area, region, or country at a given time.

Constitutional Convention

A formal assembly convened with the purpose of drafting, amending, or revising a constitution, such as the 1787 convention that drafted the Constitution of the United States.