Suppose the Demand Function for a Good Is Expressed as Q

question 32

Multiple Choice

Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the point price elasticity of demand equals

• A)-1.5.
• B)-0.67.
• C)-4.
• D)-2.5.

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Definitions:

Overconfidence

A cognitive bias characterized by an individual's overestimation of their own abilities, performance, or level of control.

Overconfidence

A cognitive bias wherein a person's subjective confidence in their judgements is reliably greater than their objective accuracy.

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The act of being presented with an opportunity for employment by an individual or organization.

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At, to, or from a great distance in space or time, often implying a place difficult to reach or a time long passed.