If the Price of Textbooks Increases by One Percent and the Quantity

question 101

Multiple Choice

If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then the price elasticity of demand is equal to:

• A)0.05.
• B)0.5.
• C)2.
• D)5.

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Definitions:

Caster

The angle of the steering axis in a vehicle's wheel mechanism, influencing directional stability and steering feel.

Camber

The angle of a vehicle's wheels in relation to the ground, affecting stability and tire wear.

Toe

In automotive terms, the angle at which the wheels of a vehicle tilt inward or outward from a vertical position, affecting steering and tire wear.

Dampers

Components of a vehicle's suspension system designed to absorb and dampen shock impulses to provide a smoother ride.