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:

Fairness

The quality of making judgments that are just, equitable, and impartial.

Citizenship Behaviors

Voluntary behaviors exhibited by employees that contribute to organizational goals by improving the context in which work takes place.

Ethical Leadership Principle

A set of guidelines that dictate the behavior of a leader based on accepted principles of right and wrong.

Serve Others

The act of helping or providing service to other people, often emphasizing altruism and selflessness.