If the Price Increases by 100% and the Quantity Demanded

question 93

Multiple Choice

If the price increases by 100% and the quantity demanded decreases by 50%, then the elasticity of demand is

• A) 0.5.
• B) 2.
• C) 1.
• D) 5.

---

Definitions:

Managers

Individuals responsible for planning, organizing, leading, and controlling resources and teams to achieve organizational goals.

Zero Defects

A quality management concept aimed at reducing defects and ensuring products meet quality standards by encouraging a culture of continuous improvement.

Philip Crosby

An influential figure in quality management who developed the concepts of "zero defects" and "the cost of quality," emphasizing that quality management can reduce costs.

Behavioral Approach

A perspective in psychology focusing on observable behaviors and the ways in which they're learned, rather than on internal states or motivations.