The Price Elasticity of Demand Is Equal to the _______

question 46

Multiple Choice

The price elasticity of demand is equal to the _______ in the _______ divided by the _______ in the _______.

• A) percentage change; quantity demanded; percentage change; price
• B) change; price; change; quantity demanded
• C) change; quantity demanded; change; price
• D) percentage change; price; percentage change; quantity demanded

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Definitions:

Marginal Product

Marginal Product is the additional output produced as a result of utilizing one more unit of a particular input, holding all other inputs constant.

Stock Dividends

A form of dividend payment made by a corporation to its shareholders in the form of additional shares, rather than cash.

Factors of Production

The inputs used in the production of goods or services; traditionally includes land, labor, capital, and entrepreneurship.

Marginal Product

The additional output a firm gains from employing one more unit of input, holding the levels of all other inputs constant.