Suppose There Is a 10 Per Cent Increase in the Price

question 67

Multiple Choice

Suppose there is a 10 per cent increase in the price of fish and a resulting five per cent decrease in the quantity of fish demanded.The price elasticity of demand for fish is:

• A)10
• B)5
• C)2
• D)1/2

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Definitions:

Glia

Star-like cells in the central nervous system that support and protect neurons.

Hearing Aids

Electronic devices designed to improve hearing by making sound audible to a person with hearing loss.

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person, often leading to discrimination or negative perceptions.

Social Attitudes

The prevailing feelings, beliefs, and behaviors people have toward individuals, groups, or concepts within their society.