Solve the Problem $\log 5 \approx 0.6990$ And $\log 9 \approx 0.9542$

question 295

Multiple Choice

Solve the problem.
-Given that $\log 5 \approx 0.6990$ and $\log 9 \approx 0.9542$ , use the properties of logarithms to approximate the following. Do not use a calculator.
$\log \frac { 5 } { 81 }$

• A) \(2.6074\)
• B) \(- 0.2115\)
• C) \(0.7677\)
• D) \(- 1.2094\)

Differentiate between elastic, inelastic, and unitary elasticity of demand.

Identify the relationship between income changes and the demand for goods.

Understand the impact of price changes on total revenue.

Distinguish between inferior goods, normal goods, and luxury goods based on income elasticity.