With a Rise in the Price of Digitally Streamed Music

question 40

Multiple Choice

With a rise in the price of digitally streamed music from $0.50 to $1.00 per song,the number of songs bought falls from 3 million to 1 million.Hence the numerical value of the price of elasticity of demand for this product is:

• A)1.50
• B)4.00
• C)2.00
• D)1.33
• E)0.67

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Definitions:

Sandra Scarr

An American developmental psychologist known for her work on genetic and environmental influences on human development.

Gregor Mendel

A scientist and Augustinian friar who is known as the father of modern genetics for his work on the inheritance of traits in pea plants.

Multifactorial Transmission

The determination of traits by a combination of both genetic and environmental factors in which a genotype provides a range within which a phenotype may be expressed.

Genetic Factors

Elements within an organism's genetic makeup that influence its physical and behavioral traits.