If a 20% Increase in Price for a Good Results

question 297

Multiple Choice

If a 20% increase in price for a good results in a 15% decrease in quantity demanded,the price elasticity of demand is

• A)0.75.
• B)1.25.
• C)1.33.
• D)1.60.

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Definitions:

Behavior Rating Scale

A tool used to measure an individual's behaviors, often in terms of frequency, intensity, and duration.

Graphic Rating Scale

A method used in questionnaires that involves a line or scale where respondents indicate their level of agreement or feeling about a particular item by marking a position along the scale.

Checklist

A list of items or tasks to be checked or completed, used as a reminder or for systematic verification.

Structured Interview

A systematic interviewing method where all candidates are asked the same predetermined questions in the same order to ensure comparability of data.