When the Price of Margarine Is $2 Per Pound,10 Pounds

question 125

Multiple Choice

When the price of margarine is $2 per pound,10 pounds of butter are demanded.When the price of margarine increases to $6 per pound,30 pounds of butter are demanded.What is the cross-price elasticity between the two goods?

• A) −1
• B) 1
• C) 2
• D) 5

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Definitions:

Millivolts

A unit of electric potential equal to one thousandth of a volt, often used in measurements of neuron activity.

Synaptic Gap

The tiny space between neurons, across which neurotransmitters travel to transmit signals from one neuron to another.

Sending Neuron

The neuron that transmits a signal to another neuron across a synapse, sending information through the nervous system.

Receiving Neuron

A neuron that receives signals from other neurons through its dendrites in a process crucial for neural communication.