When the Price of a Good Is $5,the Quantity Demanded

question 61

Multiple Choice

When the price of a good is $5,the quantity demanded is 100 units per month;when the price is $7,the quantity demanded is 80 units per month.Using the midpoint method,the price elasticity of demand is about

• A)0.22.
• B)0.67.
• C)1.33.
• D)1.50.

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Definitions:

Planned Organisational Change

A process designed intentionally to make operational, structural, or cultural adjustments in an organization to improve efficiency or adapt to new market demands.

Unfreezing Phase

The initial stage of the change process where existing behaviors, norms, and attitudes are challenged to prepare for transformation.

Refreezing Phase

The final stage in the change process where new behaviors or conditions are solidified into the organization.

Force-Coercion

A strategy or approach that relies on using power, authority, or threats to obtain compliance or achieve objectives.