When the Price of Designer Jeans Goes from $85 to $60

question 167

Multiple Choice

When the price of designer jeans goes from $85 to $60, the quantity demanded increases from 100,000 to 120,000. Over this price range, the

• A) demand for the jeans is elastic.
• B) demand for the jeans is inelastic.
• C) demand for the jeans is of unitary elasticity.
• D) arc elasticity of demand for the jeans is − 4.

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Definitions:

Centriole

In animal cells, a barrel-shaped organelle from which microtubules grow.

Cilia

Microscopic, hair-like structures on the surface of certain cells that move in a wave-like manner, facilitating movement or the transport of fluids and particles.

Vesicle

A small, fluid-filled sac or cyst within the body or a cell, used to transport materials within the cytoplasm.

Membrane Enclosed Sac

A structure within a cell, bounded by lipids, that contains fluid or smaller organelles, involved in transport, storage, and processing.