The Price Elasticity of Demand for DVDs Is 2

question 327

Multiple Choice

The price elasticity of demand for DVDs is 2. If the price of a DVD increased by 2 percent, the quantity demanded will

• A) decrease by 2 percent.
• B) not change.
• C) decrease by 4 percent.
• D) decrease by 1 percent.

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Definitions:

Capital Campaigns

Intensive fundraising efforts undertaken by non-profits and other organizations to raise significant funds for a specific purpose, often for building projects or endowments.

Special Events

Planned gatherings or activities organized to celebrate, commemorate, or achieve a purpose, used in marketing, public relations, or cultural contexts.

Nonprofit Sector

A segment of the economy composed of organizations that are dedicated to furthering a social cause and providing a public benefit, operating without the primary goal of profit.

New Positions

Job roles or titles that have been recently created within an organization, often to address emerging needs, trends, or strategic goals.