The Price of Cigars Is $10, with a Quantity Demanded

question 218

Multiple Choice

The price of cigars is $10, with a quantity demanded of 1,000 per day. If the price increases to $12, the quantity demanded declines to 800 per day. What is the absolute value of elasticity of demand?

• A) 1.00
• B) 0.82
• C) 1.22
• D) 12.2

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Definitions:

Sex Discrimination

The unfair treatment of individuals based on their sex, typically manifesting in workplace, educational, and social environments.

Discrimination

Unfair treatment of individuals based on their race, gender, age, disabilities, sexuality, or religion rather than individual merit.

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A state where an individual feels positive emotions, effectively manages stress, and experiences satisfaction in relationships and work.

Shift Supervisor

A person responsible for overseeing the operations and workers during a specific work shift, ensuring policies are followed and tasks are completed efficiently.