When the Price of Oranges Increases from $4 to $6

question 71

Multiple Choice

When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags. The price elasticity of demand over this price range is equal to

• A) 1/4 or 0.25.
• B) 3/7 or 0.4286.
• C) 3.
• D) 1/3 or 0.3333.

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Definitions:

Aggressive Behavior

Actions intended to harm or intimidate another individual, often driven by anger or hostility.

Self-Esteem

A person's personal assessment of their own importance or merit.

Narcissists

Individuals with an inflated sense of their own importance, a deep need for excessive attention and admiration, coupled with a lack of empathy for others.

Aggressiveness

A quality of being ready or likely to confront or attack, often reflecting in behavior that can be forceful, hostile, or assertive.