Table 5-2 The Following Table Shows a Portion of the Demand Schedule

question 79

Multiple Choice

Table 5-2
The following table shows a portion of the demand schedule for a particular good at various levels of income.

-Refer to Table 5-2.Using the midpoint method,at a price of $12,what is the income elasticity of demand when income rises from $5,000 to $10,000?

• A) 0.00
• B) 0.41
• C) 1.00
• D) 2.45

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Definitions:

Translation

The process by which the nucleotide sequence of an mRNA is converted into the amino acid sequence of a protein.

Lactose

A sugar composed of glucose and galactose, found in milk and dairy products, which requires the enzyme lactase for digestion.

Gene Amplification

The developmental process in which certain cells produce multiple copies of a gene by selective replication, thus allowing for increased synthesis of the gene product. Compare with nuclear equivalence and genomic rearrangement.

Specific Protein

A particular protein with a unique function or role, often distinguished by its structure and activity within biological processes.