Table 52 -Refer to Table 5

question 63

Multiple Choice

Table 5.2
$\begin{array}{c}\begin{array}{lll}\\ \text {Old}\\ \text {New}\end{array}\begin{array}{lll}\text {Quantity}\\\hline 20\\10\end{array}\begin{array}{lll}\text{ Price}\\\hline \$ 40 \\ \$ 60 \end{array}\end{array}$


-Refer to Table 5.2,which shows the change in the quantity demanded for a product as a result of a change in the price of the product.Use the information to calculate the value of the price elasticity of demand.

• A)?2/3
• B)?1/3
• C)?3/5
• D)?5/3
• E)0

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Definitions:

Effective

Producing the intended or desired result with efficiency.

Jeffrey Wigand

A whistleblower in the tobacco industry known for exposing corporate practices concerning the addictive nature and health effects of cigarettes.

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