During Last Year the Price of Regular Unleaded Gasoline in Oakland,California

question 84

Multiple Choice

During last year the price of regular unleaded gasoline in Oakland,California increased 11.0 percent.If the price elasticity of demand for gasoline was 0.13,the price hike means that the quantity demanded decreased by

• A) 1.43 percent.
• B) 8.46 percent.
• C) 0.16 percent.
• D) 4.31 percent.
• E) 6.46 percent.

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Definitions:

Placebo

A placebo is an inert substance or treatment given to a participant in a study, used to compare the effects of actual treatments by accounting for the placebo effect.

Maintenance Over Time

The continuous effort required to preserve the status or condition of something, or the effectiveness of an intervention or therapy over a prolonged period.

Defense Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Cognitive Therapies

A group of psychotherapeutic approaches aiming to change dysfunctional thoughts, behaviors, and emotions through problem-solving strategies.