The Price of Cigars Is $10, with a Quantity Demanded

question 218

Multiple Choice

The price of cigars is $10, with a quantity demanded of 1,000 per day. If the price increases to $12, the quantity demanded declines to 800 per day. What is the absolute value of elasticity of demand?

• A) 1.00
• B) 0.82
• C) 1.22
• D) 12.2

---

Definitions:

Organizational Plan

A strategic framework outlining the structure, processes, and directions of an entity to achieve its goals.

Free-Form Slides

Slide designs without a strict structure, allowing creativity and flexibility in presentation.

Stuffed Slides

PowerPoint or presentation slides that are overly filled with text, images, or data, making them difficult to read or understand.

Casual Style

Casual style in communication refers to a relaxed and friendly way of expressing oneself, typically used in personal or less formal contexts.