Suppose the Demand for Energy Drinks Decreases by 20% Due

question 145

Multiple Choice

Suppose the demand for energy drinks decreases by 20% due to recent repercussions found in the consumption.If the price elasticity of supply is 1.2 and the price elasticity of demand is 0.80,the percentage change in the equilibrium price for energy drinks will

• A) rise by 0.1%.
• B) fall by 0.1%.
• C) rise by 10%.
• D) fall by 10%.

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Definitions:

Harmful Contact

Harmful contact refers to physical contact intentionally made by one person to another that results in injury or damage.

Probable Cause

A legal standard that requires a reasonable basis for believing that a crime may have been committed, often used in the context of warrant issuance.

Reasonable Duration

An amount of time that is fair and appropriate under the circumstances, without being excessively long or unduly short.

Food and Water

Essential nutrients required by humans and animals for survival, including solid sustenance and hydration.