If the Price of a Good Increases by 10 Percent

question 120

Multiple Choice

If the price of a good increases by 10 percent and its quantity demanded drops by 50 percent, the price elasticity of demand is:

• A) 1.0.
• B) 0.2.
• C) −5.0.
• D) 2.0.

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Definitions:

K-selected Organisms

Species that produce fewer offspring, with each individual having a higher probability of surviving to adulthood.

Reproductive Rate

The speed at which a species or individual organism produces offspring, influencing population growth.

Population Size

The total number of individuals within a defined area at the same time, influencing genetic diversity and a population's ability to survive environmental pressures.

Natality

The rate at which births occur in a population, measured as the number of births per unit of time, typically per year.