Suppose the Demand Function for a Good Is Expressed as Q

question 32

Multiple Choice

Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the point price elasticity of demand equals

• A)-1.5.
• B)-0.67.
• C)-4.
• D)-2.5.

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Definitions:

Individuation

A process of psychological growth in which an individual becomes distinct and differentiated from the collective norms or the collective unconscious.

Opposites

In psychology, "opposites" can refer to contrasting or antithetical concepts, behaviors, or personality traits that exist in relation to each other.

Insecure

Feeling uncertain or lacking confidence in oneself, often reflecting in various aspects of life including relationships.

Dreams and Fantasies

Refers to the imagined scenarios and desires that one daydreams about or experiences during sleep, often revealing inner hopes, fears, or unresolved conflicts.