If the Price Elasticity of Demand Is Computed for Two

question 115

Multiple Choice

If the price elasticity of demand is computed for two products and product A measures 0.79 and product B measures 1.6,then:

• A) product A is more price elastic than product B.
• B) the cross price elasticity of product B is less than that of the product A.
• C) consumers are more sensitive to price changes in product B than in product A.
• D) product B is more price inelastic than product A.
• E) products A and B must be substitutes.

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Definitions:

Peremptory Challenges

A right in jury selection for the attorneys to reject a certain number of potential jurors without stating a reason.

Batson V. Kentucky

A landmark Supreme Court case in 1986 that ruled the discriminatory exclusion of jurors based on race violates the Equal Protection Clause of the Fourteenth Amendment.

Unlawful Discrimination

Unfair treatment of individuals based on personal characteristics, in violation of legal standards.

Stereotypes

Oversimplified, widely held fixed ideas or perceptions about specific groups of people or things.