If the Price Elasticity of Demand for Some Good Is

question 145

Multiple Choice

If the price elasticity of demand for some good is 2.7,a 10% increase in the price results in

• A)a 2.7% decrease in the quantity demanded.
• B)a 2.7% increase in the quantity demanded.
• C)a 27% increase in the quantity demanded.
• D)a 27% decrease in the quantity demanded.
• E)There is not enough information to answer this question.

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Definitions:

Network OS

An operating system designed specifically to manage network resources, such as servers and computers, within a networked environment.

Supercomputers

Extremely powerful computers with high computational capacity used for complex scientific computations, simulations, and large-scale data processing tasks.

Virtual Memory

A memory management capability of an operating system that uses hardware and software to allow a computer to compensate for physical memory shortages, by temporarily transferring data from random access memory (RAM) to disk storage.

Hard Disk

A non-volatile storage device that uses magnetic storage to save and retrieve digital information using one or more rigid rapidly rotating disks coated with magnetic material.