The Price Elasticity of Demand for New Cars Is 1

question 92

Multiple Choice

The price elasticity of demand for new cars is 1.2. Hence, a 10 percent price increase will

• A) decrease the quantity of new cars demanded by 1.2 percent.
• B) increase consumer expenditure on new cars by 1.2 percent.
• C) decrease the quantity of new cars demanded by 12 percent.
• D) increase consumer expenditure on new cars by 12 percent.

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Definitions:

Political Opportunity Theories

Theories in social movements suggesting that the success or failure of social movements is heavily influenced by the broader political context, including the accessibility of political institutions and the stability of elite alignments.

Resource Mobilization

The process of gathering and deploying financial, human, and material resources for a particular purpose, often associated with social movements or projects.

Political Opportunity

Theory that explains the emergence of social movements based on the broader political context that can either facilitate or hinder the mobilization of social movements.

Social Control Theories

Theories in criminology that focus on the societal processes and institutions that regulate individual and group behavior, aiming to prevent deviance and criminal acts.