-Refer to the Above Table

question 53

Multiple Choice

-Refer to the above table. What is the absolute price elasticity of demand when a price rises from $8 to $8.50?

• A) 5.15
• B) 1.94
• C) 0.515
• D) 0.194

---

Definitions:

College Degree

A certification awarded by colleges or universities to signify that a student has completed a specified course of study, typically representing a higher level of education and expertise.

Stock

In finance, stock represents ownership shares in a company, allowing investors to claim on the company's assets and earnings proportionate to the amount of stock they own.

Economy

A system of production, distribution, and consumption of goods and services among a group of people.

Opportunity Cost

The detriment of not pursuing the second-top option when engaging in decision-making.