If a 15% Increase in Price for a Good Results

question 116

Multiple Choice

If a 15% increase in price for a good results in a 20% decrease in quantity demanded,the price elasticity of demand is

• A)0.75.
• B)1.25.
• C)1.33.
• D)1.60.

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Definitions:

Hole Alignment

The accuracy with which holes are positioned in relation to each other or to specified datums.

Spring Loaded Mechanism

A mechanical device incorporating a spring that applies a force or allows for a specific action once triggered or released.

Cotter Pins

A fastener used to prevent a wheel or other part from sliding off the axle upon which it is riding.

Taper Pins

Cylindrical metal fasteners that have a slight cone shape, allowing them to securely fit into tapered holes for alignment purposes.