Suppose We Find That the Price Elasticity of Demand for a Product

question 297

Multiple Choice

Suppose we find that the price elasticity of demand for a product is 1.25 when its price is increased by 8 percent. We can conclude that quantity demanded

• A)increased by 0.16 percent.
• B)decreased by 10 percent.
• C)decreased by 0.8 percent.
• D)decreased by 0.16 percent.

---

Definitions:

Lactic Acid

An organic compound produced in muscles during intense activity and associated with muscle fatigue.

Cardiorespiratory Functioning

The ability of the heart and lungs to supply oxygen-rich blood to the muscles during sustained physical activity.

ATP-CP System

A short-term energy system that provides immediate energy through the breakdown of adenosine triphosphate (ATP) and creatine phosphate (CP) during high-intensity, short-duration exercises.

Hitting The Wall

A colloquial term for the point in prolonged, intense exercise when the body depletes its energy reserves and fatigue sets in.