If the Price of Food Falls by 10 Percent and the Quantity

question 131

Multiple Choice

If the price of food falls by 10 percent and the quantity sold increases by 5 percent,then the price elasticity of demand in that range equals

• A)2,and demand is elastic
• B)0.5,and demand is elastic
• C)2,and demand is inelastic
• D)0.5,and demand is inelastic
• E)15,and demand is elastic

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Definitions:

Reception Area

A space designated in an office or building where visitors are greeted and waited before being escorted to their destination.

Decrease Noise

Reducing unwanted sound or background interference to improve clarity or quality of the environment.

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Living organisms that belong to the kingdom Plantae, which grow and photosynthesize to produce their own food.

Major Disadvantage

A significant negative aspect or drawback that can impact effectiveness, efficiency, or desirability.