Suppose That Quantity Demand Rises by 10% as a Result

question 1

Multiple Choice

Suppose that quantity demand rises by 10% as a result of a 15% decrease in price.The price elasticity of demand for this good is

• A)inelastic and equal to 0.67.
• B)elastic and equal to 0.67.
• C)inelastic and equal to 1.50.
• D)elastic and equal to 1.50.

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Definitions:

Greenstick Fracture

A type of bone fracture that is incomplete and most commonly occurs in children.

Dislocation

A medical condition in which there is an abnormal displacement of the articulation between two bones, often causing pain and dysfunction.

Incision

A cut made in the body by a surgeon for the purpose of performing surgery.

Laceration

A deep cut or tear in skin or flesh.