The Price Elasticity of New Automobile Purchases Is About 1

question 100

Multiple Choice

The price elasticity of new automobile purchases is about 1.2.This implies that an increase of $1,000 on a $10,000 automobile will

• A)reduce the number of autos sold by approximately 1.2 percent.
• B)increase the consumer expenditures on autos by approximately 1.2 percent.
• C)reduce the number of autos sold by approximately 12 percent.
• D)increase consumer expenditures on autos by approximately 12 percent.

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Definitions:

Cerebrum

The cerebrum is the largest part of the brain, responsible for higher brain functions such as thought, action, memory, and emotion.

Ventricles

Hollow parts or cavities within the brain filled with cerebrospinal fluid that help protect the brain from injury and transport nutrients and waste.

CSF

Cerebrospinal fluid, a clear body fluid found in the brain and spinal cord, that acts as a cushion and provides basic mechanical and immunological protection to the brain.

Sulcus

A groove or furrow on the surface of the brain, separating adjacent gyri, and involved in increasing the brain's surface area.