If the Quantity Demanded of a Product Fell from 11,000

question 191

Multiple Choice

If the quantity demanded of a product fell from 11,000 to 10,000 when price rose from $9 to $10, the price elasticity of demand over this range is equal to approximately

• A) − 0.1.
• B) − 0.05.
• C) − 0.9.
• D) − 1.1.

---

Definitions:

Secondary Drive

A learned motivation derived from the fulfillment of a primary drive or through its association with primary drives, such as money for food.

Great Wealth

An abundance of valuable financial assets or physical possessions which surpasses the norm or average.

Achievement

The successful accomplishment of a task or goal, often recognized by some form of reward or acknowledgment.

David McClelland

A psychological theorist known for his work on motivation, particularly regarding the needs for achievement, power, and affiliation.