Suppose That the Price of a Product Increased from $1

question 156

Multiple Choice

Suppose that the price of a product increased from $1.90 to $2.10,and the quantity demanded decreased from 24 to 16.What is the value of the price elasticity of demand?

• A)0.5.
• B)0.58.
• C)1.0.
• D)1.73.
• E)4.0.

---

Definitions:

Dream Interpretation

The analysis of the hidden meaning or significance of dreams, often used in psychotherapy and psychoanalysis.

Psychosexual Development

A Freudian theory that describes how personality develops during childhood through a series of stages focused on erogenous zones.

Fixation

An obsessive focus or attachment to a particular stage of development, object, or activity, often resulting in stagnation in psychological growth.

Unconscious

Part of the mind that is inaccessible to the conscious mind but that affects behaviors and emotions.