When the Price of a Product Is Increased 8 Percent

question 264

Multiple Choice

When the price of a product is increased 8 percent, the quantity demanded decreases 20 percent. The price-elasticity of demand coefficient for this product is

• A)2.5.
• B)25.
• C)0.4.
• D)4.

---

Definitions:

Malnutrition

A condition that results from eating a diet in which one or more nutrients are either not enough or are too much, causing health problems.

Mimic Dementia

Conditions such as certain vitamin deficiencies or thyroid problems that can cause symptoms similar to dementia but are reversible.

Lewy Body Dementia

A type of progressive dementia characterized by abnormal deposits of a protein called alpha-synuclein in the brain.

Aesthetic

Related to beauty or the appreciation of beauty, often involving sensitivity to art and taste.