The Price Elasticity of Demand Is Calculated as the Absolute

question 235

Multiple Choice

The price elasticity of demand is calculated as the absolute value of the

• A) percentage change in quantity demanded divided by the percentage change in price.
• B) percentage change in price divided by the percentage change in quantity demanded.
• C) change in quantity demanded divided by the change in price.
• D) change in price divided by the change in quantity demanded.

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Definitions:

Anna Freud

A pioneer in child psychoanalysis and the youngest daughter of Sigmund Freud who emphasized the importance of the ego and its defense mechanisms in psychology.

Incongruity

The state of being out of place, lacking harmony or consistency with surround elements or expectations.

Theory of Humor

A set of ideas intended to explain what humor is and what social functions it serves, including why we find certain things funny.

Defense Mechanisms

are psychological strategies used unconsciously to protect oneself from anxiety and unacceptable thoughts and feelings.