Refer to the Following Figure

question 3

Multiple Choice

Refer to the following figure:

-When price is $10 and quantity demanded is 2,000, what is the point elasticity of demand?

• A) -3
• B) -1/3
• C) -1
• D) -5
• E) -2/3

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Definitions:

Laccolith

A dome-shaped igneous intrusion between rock layers, formed by the injection of magma.

Igneous Feature

A geological structure formed from the solidification of molten rock material, either below (intrusive) or on (extrusive) the Earth's surface.

Batholith

a large mass of intrusive igneous rock believed to have solidified deep beneath the Earth's surface.

Deep Batholithic Rocks

Large masses of intrusive igneous rock, originating deep within the Earth's crust, that have solidified from magma over millions of years.