For a Certain Good, When the Good's Price Falls from $22

question 41

Multiple Choice

For a certain good, when the good's price falls from $22 to $20, its quantity demanded rises from 2,000 to 2,200 units. Given this information, the price elasticity of demand for this good is approximately

• A)2.55.
• B)0.66.
• C)0.39.
• D)0.20.
• E)1.00

---

Definitions:

Productivity

The efficiency of production of goods or services expressed by some measure, typically output per labor hour.

Morale

The overall outlook, attitude, satisfaction, and confidence of a person or group at a given time, often related to workplace or team environment.

Contingency Leadership

A theory of leadership that suggests the effectiveness of a leadership style is dependent on the context or situation in which it is applied.

Leader's Behavior

Actions, decisions, and practices of an individual in a leadership role that influence the direction, performance, and culture of an organization or group.