What Is the Product of 12.56 and 2.12

question 32

Multiple Choice

What is the product of 12.56 and 2.12?

• A)27
• B)26.6
• C)26.23
• D)26.627
• E)26.6270

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Definitions:

Income Elasticity

The responsiveness of the demand for a good to a change in an individual’s income.

Normal Good

A type of good for which demand increases as the income of the consumer increases, showing a positive correlation between income and demand.

Cross-price Elasticity

A measure of how the demand for one product changes in response to a price change of another product, indicating substitutes or complements.

Cross-price Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good, indicating substitutability or complementarity.