If a 20 Percent Increase in the Price of a Used

question 328

Multiple Choice

If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the price elasticity of demand equals

• A) 0.5.
• B) 1.0.
• C) 2.0.
• D) 10.0.

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Definitions:

Supreme Court Justices

Judges appointed to the Supreme Court of the United States, the highest court in the country, who have the authority to interpret the Constitution in legal cases.

Warrantless Search

A search conducted by law enforcement without a court-issued warrant, often justified by exigent circumstances or conducted within specific legal exceptions.

Digital Contents

Electronic materials such as text, images, video, and audio that are created, shared, and accessed via digital devices and platforms.

Riley v. California

A landmark Supreme Court case in 2014 that held that police must obtain a warrant before searching the digital contents of an individual's cellphone during an arrest.