If the Price of Orange Juice Rises 10%,and as a Result

question 6

Multiple Choice

If the price of orange juice rises 10%,and as a result the quantity demanded falls by 8%,the price elasticity of demand for orange juice is

• A) -1.25.
• B) elastic.
• C) Both A and B above.
• D) Neither A nor B above.

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Definitions:

Brain

The central organ of the human nervous system, located in the skull, responsible for processing sensory information, regulating bodily functions, and enabling cognition and emotions.

Embryo

An early stage of development in multicellular organisms after fertilization and before the fetus stage in humans.

Conception

The union of a sperm cell and an ovum that occurs when the chromosomes of each of these cells combine to form 23 new pairs.

Infants

Young children from birth to one year of age, who are in the earliest stages of childhood development.