When the Price of One Pen Is $1,the Number of Notebooks

question 166

Multiple Choice

When the price of one pen is $1,the number of notebooks demanded is 50.When the price per pen increases to $5,the number of notebooks demanded decreases to 30.What is the cross-price elasticity of demand between the two goods using the arc elasticity method?

• A) 0.1
• B) −0.375
• C) 3
• D) −3

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Definitions:

Malnutrition

Lack of necessary or proper food substances in the body.

Guidelines for Good Health

Recommendations and practices designed to improve and maintain overall physical and mental well-being.

Sun Exposure

The instance of being in the sunlight, which can be beneficial for vitamin D synthesis but harmful in terms of skin damage and cancer risk if overdone.