If a 10% Decrease in Price for a Good Results

question 224

Multiple Choice

If a 10% decrease in price for a good results in a 20% increase in quantity demanded,the price elasticity of demand is

• A)0.50.
• B)1.
• C)1.5.
• D)2.

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Definitions:

Test Strips

Strips used for various types of testing, often chemical, by indicating certain conditions through color change.

Brake Fluid

A type of hydraulic fluid used in brake systems to transfer force into pressure, amplifying the braking force applied by the driver.

Piston

A cylindrical component that moves up and down in an engine's cylinder, converting combustion energy into mechanical motion.

Compress

To apply pressure to something or reduce its volume by squeezing it tightly, often referring to gases, fluids, or solids in various contexts.