If a 20% Increase in Price for a Good Results

question 297

Multiple Choice

If a 20% increase in price for a good results in a 15% decrease in quantity demanded,the price elasticity of demand is

• A)0.75.
• B)1.25.
• C)1.33.
• D)1.60.

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Definitions:

Minor Accident

An incident involving minimal damage or injury, often considered too insignificant to warrant extensive reporting or intervention.

Positive Feelings

Emotions that are pleasant or desirable, such as happiness, joy, love, and contentment.

Late Adulthood

The final stage of the human lifespan, typically considered to begin around the age of 65, marked by changes in physical, cognitive, and social functioning.

Negative Feelings

Emotional states or attitudes that are unpleasant or undesirable, such as sadness, anger, or fear.