The Percentage Change in Quantity Demanded of One Good or Service

question 33

Multiple Choice

The percentage change in quantity demanded of one good or service divided by the percentage change in the price of a related good or service is:

• A) price elasticity of demand.
• B) quantity elasticity of demand.
• C) income elasticity of demand.
• D) cross price elasticity of demand.

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Definitions:

Sex

A biological category based on reproductive organs and genetic makeup, commonly classified as male or female.

Psychoanalytic

Pertaining to a theory of psychology founded by Sigmund Freud, focusing on the role of unconscious motivations and early childhood experiences in determining behavior and personality.

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Pertaining to the science of life or living organisms, their structure, function, growth, origin, evolution, and distribution.

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Relating to mental activities such as thinking, understanding, learning, and remembering.