For a Certain Good, When Price Rises from $90 to $98

question 90

Multiple Choice

For a certain good, when price rises from $90 to $98, quantity demanded falls from 7,400 to 6,500. The price elasticity of demand here is approximately _____________, making the demand for this good ____________ in the price range between $90 and $98.

• A)1.52; inelastic
• B)1.52; elastic
• C)1.86; elastic
• D)0.66; elastic
• E)0.66; inelastic

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Definitions:

Dominant Roles

Positions of authority or superiority within a social, organizational, or systemic hierarchy, often influencing decision-making and norms.

Recurring Characters

Characters that appear regularly in a series of stories, television shows, or other narrative works.

Television

An electronic system of transmitting transient images of fixed or moving objects together with sound over a wire or through space by apparatus that converts light and sound into electrical waves and reconverts them into visible light rays and audible sound.

Men

Adult human males.