Evaluate $f ( x ) = \log x$ At the Indicated Value of X

question 16

Multiple Choice

Evaluate $f ( x ) = \log x$ at the indicated value of x.Round your result to three decimal places. $x = \frac { 1 } { 100 }$

• A)-0.5
• B)0.01
• C)0.5
• D)-2
• E)2

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Definitions:

Price Sensitive

Being price sensitive means the demand for a product or service is highly influenced by changes in its price, where consumers may alter their buying habits significantly in response to pricing adjustments.

More Inelastic

A description of a product or service demand that is less sensitive to price changes compared to others.

Complement Good

A product that is typically consumed together with another product, increasing the demand for both.

Substitute Good

A product or service that a consumer can use in place of another product or service.