Theta, Inc Which of the Following Is the Price Elasticity of Demand

question 138

Multiple Choice

Theta, Inc., sells three different products. The following information is provided by Theta: $\begin{array}{lrrrr}&&&\text { Sales Quantity }&\text { Sales Quantity }\\\text { Product } & \text { Old Price } & \text { New Price } &\text { (at old price) }&\text { (at NEW price) }\\\text { Alpha } & \$ 20.00 & \$ 25.00 & 5,000 & 5,100 \\\text { Beta } & 10.00 & 5.00 & 8,000 & 14,000 \\\text { Gamma } & 40.00 & 39.00 & 900 & 850\end{array}$ Which of the following is the price elasticity of demand for the product Beta? (Give the answer to one decimal place.)

• A)?1.5
• B)1.2
• C)?2.2
• D)2.5

Calculate z-scores using mean and standard deviation.

Determine the median price using a frequency distribution table.

Apply linear regression equations to predict outcomes.

Identify and interpret correlation coefficients.

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Definitions:

Allosteric Site

A region on an enzyme that is distinct from the active site and can bind regulatory molecules to change the enzyme's activity.

cAMP

Cyclic adenosine monophosphate, a second messenger important in many biological processes.

Lac Operon

A gene regulatory system found in bacteria and some other organisms that regulates the metabolism of lactose, involving an operon required for the transport and metabolism of lactose.

Cap

In molecular biology, a specially modified nucleotide on the 5’ end of eukaryotic mRNA, important for RNA stability and the initiation of translation.