TABLE 12-12 Parents Complain That Children Read Too Few Storybooks and Watch

question 133

Multiple Choice

TABLE 12-12
Parents complain that children read too few storybooks and watch too much television nowadays. A survey of 1,000 children reveals the following information on average time spent watching TV and average time spent reading storybooks.

-Referring to Table 12-12, how many children in the survey spent less than 2 hours watching TV and more than 2 hours reading storybooks on average?

• A) 8
• B) 130
• C) 175
• D) 687

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Definitions:

Demand Coefficient

A numerical measure of the sensitivity of demand for a good or service to a change in one of its determinants, such as price, income, or the price of related goods.

Buyer Responsiveness

THe degree to which consumers change their demand for a product or service in response to changes in its price or attributes.

Fixed Costs

Business expenses that remain constant regardless of the level of production or business activity, such as rent, salaries, and loan payments.

Cross Elasticity

A measure of how the demand for one good responds to a change in the price of another good.