If the Price Elasticity of Demand for a Good Is

question 117

Multiple Choice

If the price elasticity of demand for a good is 1,then a 3 percent decrease in price results in a

• A)0.1 percent increase in the quantity demanded.
• B)1 percent increase in the quantity demanded.
• C)3 percent increase in the quantity demanded.
• D)4 percent increase in the quantity demanded.

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Definitions:

Tendon

A fibrous connective tissue that attaches muscle to bone, enabling the transfer of force to produce movement.

Proteoglycan

Macromolecule consisting of numerous polysaccharides attached to a common protein core.

Cartilage

Flexible connective tissue found in various parts of the body, including the joints, ear, nose, and rib cage.

Matrix

The intercellular substance or framework within a tissue or an organism, providing support and regulating behavior of the cells.