If the Price Elasticity of Demand for a Good Is

question 52

Multiple Choice

If the price elasticity of demand for a good is -0.8 and quantity demanded decreases by 40%, price must have

• A) increased by 5%.
• B) increased by 32%.
• C) decreased by 20%.
• D) decreased by 32%.
• E) none of the above

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Definitions:

Antidiscrimination

The practice or policy of preventing unequal treatment of people based on certain characteristics such as race, gender, age, or sexual orientation.

Civil Rights

The rights of citizens to political and social freedom and equality.

Relative Deprivation

A feeling of dissatisfaction or injustice experienced by individuals who perceive themselves as having less than others to whom they compare themselves.

Disadvantaged Groups

Populations or communities that experience a lower quality of life or diminished opportunities for success and wellbeing due to social, economic, or political barriers.