Suppose the Price of a Calculator Is $18 and the Quantity

question 81

Multiple Choice

Suppose the price of a calculator is $18 and the quantity demanded is 90. When the price increases to $22, the quantity demanded drops to 70. Using the mid-point method, what is the price elasticity of demand for calculators?

• A) −1.25
• B) −25 percent
• C) −20 percent
• D) −25

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Definitions:

Interface

A programming construct that defines a contract of methods that implementing classes must provide, used to enforce a set of behaviors.

Comparable Interface

An interface in Java that imposes a natural ordering on the objects of each class that implements it, used to allow objects to be compared.

Java.util

The java.util package provides a collection of utility classes that are useful for tasks involving collections, dates, and system properties.

Java.io

A package in Java that contains classes for system input and output through data streams, serialization, and the file system.