If the Absolute Value of the Price Elasticity of Demand

question 169

Multiple Choice

If the absolute value of the price elasticity of demand for aspirin equals 0.8 then

• A)aspirin is a normal good.
• B)the demand for aspirin is inelastic.
• C)aspirin has few substitutes.
• D)the demand for aspirin is elastic.

---

Definitions:

Employer Interested

A state where an employer shows curiosity or consideration towards a potential employee or candidate.

Interviewing

The process of asking questions and obtaining information from individuals, often used in research, journalism, or employment selection.

Preparing Résumé

The process of creating a document that summarizes one's work experience, education, and skills for job applications.

Prospective Employers

Organizations or individuals considering hiring someone, often evaluating candidates' qualifications and fit for a role.