If the Price Elasticity of Demand for a Good Is

question 41

Multiple Choice

If the price elasticity of demand for a good is 5,then a 10 percent increase in price results in a

• A)0.5 percent decrease in the quantity demanded.
• B)2 percent decrease in the quantity demanded.
• C)5 percent decrease in the quantity demanded.
• D)50 percent decrease in the quantity demanded.

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Definitions:

Protons

Positively charged subatomic particles found in the nucleus of an atom, contributing to the atom's overall charge and mass.

Molecules

The smallest units of a chemical substance that can exist independently while retaining the properties of the substance.

Mole

The atomic mass of an element or the molecular mass of a compound, expressed in grams; one mole of any substance has 6.02 x 10^23 units (Avogadro’s number).

Covalent Bonds

Chemical bonds formed by the sharing of electron pairs between atoms.