When the Price of Good a Is $50, the Quantity

question 175

Multiple Choice

When the price of good A is $50, the quantity demanded of good A is 500 units. When the price of good A rises to $70, the quantity demanded of good A falls to 400 units. Using the midpoint method, the price elasticity of demand for good A is

• A)1.50, and an increase in price will result in an increase in total revenue for good A.
• B)1.50, and an increase in price will result in a decrease in total revenue for good A.
• C)0.67, and an increase in price will result in an increase in total revenue for good A.
• D)0.67, and an increase in price will result in a decrease in total revenue for good A.

---

Definitions:

Advancement of Women

Efforts and policies aimed at improving the status, opportunities, and wellbeing of women in various spheres of life.

Corporate Culture

The shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature.

Double Standards

A concept where different principles are applied to similar situations, often unfairly favoring one group or individual over another.

Diversity Training Groups

Organized sessions or workshops aimed at increasing participants' awareness, understanding, and appreciation of diversity within the workplace.