If Quantity Demanded for Sneakers Falls by 6 Percent When

question 34

Multiple Choice

If quantity demanded for sneakers falls by 6 percent when price increases 20 percent,we know that the absolute value of the own price elasticity of sneakers is:

• A) 0.3.
• B) 0.7.
• C) 2.3.
• D) 3.3.

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Definitions:

Troops

Units of soldiers, typically used to refer collectively to military personnel.

Somalia

A country located in the Horn of Africa, known for its long coastline, history of clan-based society, and recent struggles with instability and piracy.

Long-lasting Conflict

A prolonged struggle or dispute that persists over an extended period of time, often involving armed combat.

Clinton

Referring to Bill Clinton, the 42nd President of the United States, who served from 1993 to 2001, or Hillary Clinton, a prominent American politician and former Secretary of State.