Compute the Approximate Elasticity of Demand from the Following Data

question 160

Multiple Choice

Compute the approximate elasticity of demand from the following data: $$\begin{array} { | l | c | c | } \hline & \text { Price } & \text { Quantity } \\\hline \text { Initial situation } & \$ 23 & 11.5 \\\hline \text { New situation } & 20 & 13.5 \\\hline\end{array}$$

• A).87.
• B)1.15.
• C)1.5.
• D)5.0.

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Definitions:

Muscle Contraction

Describes the process where muscle fibers actively shorten or generate tension in response to signals from the nervous system.

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A chemical element (K) essential for the normal functioning of cells, nerves, and muscles.

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A type of anemia caused by the body's inability to absorb vitamin B12, leading to reduced red blood cell production.

Vitamin B12

An essential nutrient required for the production of red blood cells and maintenance of the nervous system.