If the Price of a Six-Pack of Pepsi Falls from $4

question 111

Multiple Choice

If the price of a six-pack of Pepsi falls from $4 to $3 and the quantity purchased increases 80 percent,then demand is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly inelastic.
• E) perfectly elastic.

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Definitions:

Y-intercept

The point where a line or curve meets the y-axis of a graph.

Graph Equation

The graphical representation of an equation on a coordinate plane, showing the relationship between variables.

Graph Equation

A mathematical representation of relationships between variables, often plotted on a coordiante system.

Absolute Value

The distance of a number from zero on the number line, without considering direction; expressed as \(|x|\) for a number \(x\).