The Figure Above Shows the Supply Curve for Roses

question 22

Multiple Choice

The figure above shows the supply curve for roses.
-Suppose an increase in supply lowers the price from $10 to $8 and increases the quantity demanded from 100 units to 130 units.Using the midpoint method,the elasticity of demand equals

• A) 1.17.
• B) 0.85.
• C) 0.26.
• D) 1.56.
• E) None of the above answers is correct.

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Definitions:

Cognitive Restructuring

A psychological technique that aims to challenge and change irrational or maladaptive thoughts, beliefs, and attitudes.

Exposure Therapy

A psychological treatment method that involves confronting fears directly and under controlled conditions to reduce the learned fear response.

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Social Anxiety Disorder

A chronic mental health condition characterized by intense fear and avoidance of social situations due to perceived judgment or scrutiny by others.