Suppose That in a Month the Price of a Liter

question 95

Multiple Choice

Suppose that in a month the price of a liter of soda increases from $1 to $1.50. At the same time, the quantity of liters of soda supplied increases from 200 to 210. The price elasticity of supply for liters of soda (calculated using the initial value formula) is

• A) 0.1.
• B) 0.5.
• C) 10.
• D) 20.

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Definitions:

Negation

In logic, negation refers to the operation of changing a statement's truth value from true to false, or vice versa.

Disjunction

A logical operation that yields true if at least one of its operands is true.

Conditional

A logical statement that has an "if-then" form, specifying that one proposition depends on another for its truth.

Symbolize

To represent or stand for something else, especially through the use of symbols or symbolic language.