If the Price of Orange Juice Rises 10%,and as a Result

question 6

Multiple Choice

If the price of orange juice rises 10%,and as a result the quantity demanded falls by 8%,the price elasticity of demand for orange juice is

• A) -1.25.
• B) elastic.
• C) Both A and B above.
• D) Neither A nor B above.

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Definitions:

Reciprocal Determinism

A concept in psychology proposing that a person's behavior is influenced by and influences both their environment and personal characteristics.

Behavior

The actions or reactions of an object or organism, usually in relation to its environment.

Humanistic Approach

An approach to psychology emphasizing a person’s positive qualities, the capacity for positive growth, and the freedom to choose any destiny.

Personality

The blend of traits and attributes that create a person's unique personality.