If the Price Elasticity of Demand Is 0

question 46

Multiple Choice

If the price elasticity of demand is 0.5, then a 10 percent increase in price results in a

• A) 5 percent decrease in quantity demanded.
• B) 50 percent reduction in quantity demanded.
• C) 5 percent increase in quantity demanded.
• D) 0.5 percent decrease in quantity demanded.
• E) 5 percent decrease in total revenues.

---

Definitions:

Leadership Studies

An interdisciplinary academic field dedicated to understanding leadership, its processes, and impacts on groups and organizations.

Dyadic

Pertaining to an interaction or relationship between two entities or individuals.

Group Subordinates

refers to the members of a group who report to a leader or manager, emphasizing their collective role within a hierarchical organization.

Heroic Leader

A leadership archetype characterized by remarkable personal qualities and the ability to achieve significant success amidst challenges.