Price Elasticity of Demand Measures ________

question 35

Multiple Choice

Price elasticity of demand measures ________.

• A) the slope of the demand function
• B) the change in demand due to a change in the good's own price
• C) the change in quantity demanded to a change in the good's own price
• D) the percentage change in quantity demanded due to a percentage change in the good's own price

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Definitions:

Right Of Survivorship

A feature of some types of co-ownership of property causing a co-owner’s interest in property to be transferred on his death immediately and by operation of law to his surviving co-owner(s). See also tenancy by the entirety and joint tenancy.

Tenancy In Common

A form of co-ownership of property that is freely disposable both during life and at death, and in which the co-owners have undivided interests in the property and equal rights to possess the property.

Right Of Survivorship

A legal principle in property law where, upon the death of one owner, the ownership interest of the deceased automatically transfers to the surviving owner(s) without the need for probate.

Community Property

A form of ownership between spouses in which property acquired during marriage is owned equally by both parties.