If the Price Elasticity of Demand for a Good Is

question 117

Multiple Choice

If the price elasticity of demand for a good is 1,then a 3 percent decrease in price results in a

• A)0.1 percent increase in the quantity demanded.
• B)1 percent increase in the quantity demanded.
• C)3 percent increase in the quantity demanded.
• D)4 percent increase in the quantity demanded.

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Definitions:

Aging

The biological process of growing older, which includes changes in physical appearance, function, and the increased likelihood of diseases.

FPS-R

A tool used for the assessment of pain, where FPS stands for Faces Pain Scale – Revised, allowing patients to rate their pain by pointing to faces expressing varying degrees of distress.

Physiologic Changes

Natural alterations in the body's functionings that occur due to various factors, such as aging, disease, or environmental changes.

Hip Fracture

A break in the femur (thigh bone) near the hip joint, commonly caused by falls or direct impacts.