Table 5-3 The Following Table Shows the Demand Schedule for a Particular

question 36

Multiple Choice

Table 5-3
The following table shows the demand schedule for a particular good.

-Refer to Table 5-3.Using the midpoint method,when price falls from $6 to $3,the price elasticity of demand is

• A) 0.43
• B) 0.67
• C) 1.50
• D) 2.33

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Definitions:

Gene Pool

Total of the alleles of all the individuals in a population.

Permian

The last geological period of the Paleozoic era, spanning from about 299 to 252 million years ago, preceding the Mesozoic era.

Mesozoic Layers

Stratified layers of rock that were formed during the Mesozoic Era, which spans from about 252 to 66 million years ago, encompassing the Triassic, Jurassic, and Cretaceous periods.

Dinosaur Fossils

Remains or traces of dinosaurs preserved in rock.