Suppose There Is a 10 Per Cent Increase in the Price

question 26

Multiple Choice

Suppose there is a 10 per cent increase in the price of fish and a resulting five per cent decrease in the quantity of fish demanded. The price elasticity of demand for fish is:

• A) 10
• B) 5.0
• C) 2.0
• D) 0.5

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Definitions:

Obese

A medical condition characterized by excessive body fat accumulation that presents health risks.

Ideal Body Weight

The optimal weight based on various factors like height, gender, and age, aimed to promote optimal health.

Malnutrition

A condition resulting from eating a diet in which certain nutrients are lacking, in excess, or in the wrong proportions.

Immigrant

A person who moves to a new country with the intention of settling there, often in search of better living conditions or opportunities.