If the Absolute Value of the Price Elasticity of Demand

question 10

Multiple Choice

If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be

• A)less than 0.8 in absolute value.
• B)greater than 0.8 in absolute value.
• C)equal to 1 in absolute value.
• D)equal to zero because the DVD of this movie has been out for several years.

---

Definitions:

Aerobic Exercise

Any form of physical exercise that relies on the oxygen process, typically involving moderate intensity activities sustained over long periods.

External Locus

The belief that one's outcomes in life are determined by external forces or events, rather than by one's own efforts.

Type B

Describes a personality typology characterized by a relaxed, patient, and easy-going nature.

Type A

Refers to a personality type characterized by high levels of competitiveness, self-imposed stress, and a sense of urgency, often linked with stress-related health issues.