A Fall in the Price of Cabbage from $10

question 13

Multiple Choice

A fall in the price of cabbage from $10.50 to $9.50 per carton increases the quantity demanded from 18,800 to 21,200 cartons. The price elasticity of demand is

• A) 1.25.
• B) 0.80.
• C) 8.00.
• D) 1.20.

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Definitions:

Right Margin

The right boundary of a text block in a document, where the line of text ends on the right side.

Limbs

Refers to the arms and legs.

Simultaneous

Occurring at the same time.

Anterior Axillary Line

An imaginary line drawn along the body from the armpit (anterior axilla) down through the point at which the arm joins the body.