A Government Wants to Reduce Electricity Consumption by 10

question 147

Multiple Choice

A government wants to reduce electricity consumption by 10%. The price elasticity of demand for electricity is -0.1. The government must ________ the price of electricity by ________.

• A) raise; 100.0%
• B) raise; 10.0%
• C) raise; 1.0%
• D) lower; 20%

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Definitions:

Outer For Loop

The first loop in nested for-loops which controls the iteration of the inner loop, usually responsible for the broader range of iteration.

Sequential Search

An algorithm that checks each element in a data set one by one until the desired element is found or the end is reached.

Key Comparisons

The process of comparing important features or aspects of items, concepts, or data values to determine their relationships or differences.

Accompanying Figure

This usually refers to a diagram or illustration that goes along with a text to help explain something described in the document.