Suppose That in a Month the Price of Pizza Increases

question 261

Multiple Choice

Suppose that in a month the price of pizza increases from $4 to $5. At the same time, the quantity of pizzas demanded decreases from 200 to 190. The price elasticity of demand for pizza (calculated using the midpoint formula) is

• A) 0.1.
• B) 0.23.
• C) 0.25.
• D) 4.35.

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Definitions:

Type A Behavior

A behavior pattern characterized by aggression, competitiveness, impatience, urgency, and a strong sense of time urgency.

Individuality Corollary

A principle that stipulates individuals differ in their construction of events due to their unique experiences and perspectives.

Nonverbal Behaviors

Refers to the ways in which people communicate, intentionally or unintentionally, without using verbal language, including through gestures, facial expressions, body language, and posture.

Explanatory Style

A psychological attribute that indicates how people explain to themselves their experiences, particularly the causes of events.