A 10 Percent Decrease in Income Decreases the Quantity Demanded

question 482

Multiple Choice

A 10 percent decrease in income decreases the quantity demanded of pizza by 3 percent. The income elasticity of demand for pizza is

• A) -0.3.
• B) 0.3.
• C) 3.3.
• D) 10.0.

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Definitions:

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The act of withholding one's opinions or restraining oneself from speaking out due to fear of criticism, rejection, or punishment.

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Forming

The initial stage of team development where members meet and begin to understand their tasks and how they will work together.