Block's Sells 500 Bottles of Perfume a Month When the Price

question 77

Multiple Choice

Block's sells 500 bottles of perfume a month when the price is $7.A huge increase in resource costs causes price to rise to $9 and Block's only manages to sell 460 bottles of perfume.The price elasticity of demand is:

• A) 0.33 and elastic.
• B) 3.0 and elastic.
• C) 0.33 and inelastic.
• D) 3.0 and inelastic.
• The change in quantity is (500 - 460)/(500 + 460)= 0.0417 and the change in price is (7 - 9)/(7 + 9)= 0.125.Elasticity,then is 0.0417/0.125 = 0.33.

---

Definitions:

Sleep Deprivation

The condition of not having enough sleep, which can affect mental, physical, and emotional functioning.

Immune System

The body's defense system against infectious agents, comprising various cells, tissues, and organs that work together to protect the body.

Metabolic Functioning

The complex set of chemical reactions that occur within living organisms to maintain life, including processes for converting food to energy and constructing cellular materials.

Impaired Creativity

Describes a reduction in the ability to generate original ideas, think imaginatively, or solve problems in novel ways.