A Retailer Originally Priced an E-Reader at $99 and Sold

question 86

Multiple Choice

A retailer originally priced an e-reader at $99 and sold 1,200 units per week. After raising the price to $120, sales dropped to 1,000 units per week. What would the item's price elasticity be?

• A) -2.4005
• B) 2.4005
• C) -3
• D) 3.33
• E) -.7855

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Definitions:

Triplet Codes

Sequences of three nucleotides on DNA or RNA that code for specific amino acids, fundamental to the genetic code and protein synthesis.

Codon Sequences

Specific sequences of three nucleotides in mRNA that specify particular amino acids during the translation process of protein synthesis.

Codons

Sequences of three nucleotides in mRNA that specify the addition of a particular amino acid into a polypeptide chain during protein synthesis or signal the termination of protein synthesis.

Amino Acids

The basic building blocks of proteins, consisting of a central carbon atom, an amino group, a carboxyl group, and a unique side chain.