The following graph depicts demand. 
Refer to the figure above.The price elasticity of demand at point C is:
Definitions:
Schema
A specific cognitive structure that organizes the processing of complex information about other persons, groups, and situations. Our schemas guide what we perceive in the environment, how we organize information in memory, and what inferences and judgments we make about people and things.
Theory
A set of interrelated propositions that organizes and explains a set of observed facts; a network of hypotheses that may be used as a basis for prediction.
Role-Taking
The ability to see oneself from the perspective of others and to understand their thoughts, feelings, and expectations, facilitating empathy and social interactions.
Identity Work
The process through which individuals engage in creating, maintaining, or altering their personal or social identities.
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