Suppose the Quantity Demanded Is 5 Units When the Price

question 95

Multiple Choice

Suppose the quantity demanded is 5 units when the price is $1. If the price rises to $2, the quantity demanded falls to 3 units. The price elasticity of demand is

• A) 0.5.
• B) 2.00.
• C) 1.33.
• D) 0.75.

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Definitions:

Ordinary Consciousness

The typical state of awareness where individuals perceive, think, and feel in a normal waking state.

Conversion Disorder

A mental disorder characterized by the presence of neurological symptoms, such as blindness or paralysis, that cannot be explained by medical evaluation.

Physical Symptoms

Observable or perceivable signs of a possible medical condition experienced by an individual.

Physiological Basis

The underlying physical and biological principles that explain an organism's behavior or bodily function.