Assume the Demand for Electricity, a Necessity with Few Substitutes

question 42

Multiple Choice

Assume the demand for electricity, a necessity with few substitutes, is −0.2. If the cable company raised its rates by 10 percent, we would expect a

• A)10 percent decrease in quantity demanded.
• B)2 percent increase in quantity demanded.
• C)10 percent increase in quantity demanded.
• D)2 percent decrease in quantity demanded.
• E)5 percent decrease in quantity demanded.

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Definitions:

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The process of converting information or data into a code, especially to prevent unauthorized access.

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Remote Data Wipe

A security feature that allows users or administrators to remotely delete data on a device, ensuring privacy and data protection if the device is lost or stolen.

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A specialized vacuum cleaner designed to safely clean up toner powder from laser printers and copiers without causing damage to the device or health hazards to the operator.