Suppose the Quantity of Gasoline Is Measured in Gallons and the Price

question 161

Multiple Choice

Suppose the quantity of gasoline is measured in gallons and the price of gasoline is measured in dollars. The price elasticity of demand is 0.67. If the price of gasoline was now measured in cents rather than dollars, the price elasticity of demand would now be

• A) 0.0067.
• B) 0.67.
• C) 6.7.
• D) 67.0.

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Definitions:

Cross-gender Socialization

The process through which individuals learn the gender roles and cultural norms of both their own and the opposite gender.

Development

A process of growth, progress, or evolution, often referring to economic, social, or technological advancement.

Gay Men

Males who experience sexual, romantic, and/or emotional attractions to other males.

Male Heterosexuals

Men who are romantically and sexually attracted exclusively to individuals of the opposite sex.