If an Increase in the Price of Oil by 10

question 217

Multiple Choice

If an increase in the price of oil by 10 percent would cause the quantity demanded for oil to fall by 5 percent, the elasticity of demand for oil in absolute terms is:

• A)10.
• B)5.
• C)2.
• D) 0.5.

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Definitions:

Sexual Orientation

A person’s pattern of sexual attraction—to the opposite sex or to the same sex or to both sexes.

Born

Coming into existence by birth.

Intersex

Intersex is a term used to describe individuals born with reproductive or sexual anatomy that doesn’t fit typical definitions of male or female.

Pyriform Cortex

A region of the brain associated with the processing of olfactory (smell) information, part of the cerebral cortex.