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:

Appropriate Death

A person dying as he or she wished to die. The death is generally consistent with past personality patterns.

Anorexia

An eating disorder characterized by an intense fear of gaining weight, leading to severe food restriction and weight loss, often associated with a distorted body image.

Cancer

A disease characterized by the uncontrolled division of abnormal cells in a part of the body, potentially leading to tumors, spread to other areas, and various health challenges.

Lack

The state of being without or not having enough of something.