Table 5-1
Suppose a Coffee Shop Faces the Following Demand

question 115

Multiple Choice

Table 5-1
Suppose a coffee shop faces the following demand schedule for coffee. $\begin{array}{|c|c|}\hline \text { Price per coffee (\$) } & \text { Quantity demanded } \\\hline 4.00 & 200 \\\hline 3.00 & 600 \\\hline 2.50 & 800 \\\hline 2.00 & 1000 \\\hline 1.50 & 1200 \\\hline 1.00 & 1400 \\\hline\end{array}$
-Referring to Table 5-1, comparing the sales at $1.00 and $3.00, which of the statements below is true?

• A)the price elasticity of demand is higher at $3.00 than $1.00
• B)the price elasticity of demand is lower at $3.00 than at $1.00
• C)the price elasticity of demand is the same at both prices
• D)the price elasticity of demand at $3.00 is zero

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Definitions:

DSM III

The third edition of the Diagnostic and Statistical Manual of Mental Disorders, a standardized classification of mental disorders used by mental health professionals in the U.S.

DSM II

The second edition of the Diagnostic and Statistical Manual of Mental Disorders, a publication for the classification of mental disorders.

DSM-IV-TR

The Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, Text Revision; a manual published by the American Psychiatric Association that categorizes and defines mental disorders.

DSM IV

The Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, a handbook used by healthcare professionals as a guide to diagnose mental disorders.