If Quantity Increases by 15 Percent When Prices Increase 5

question 168

Multiple Choice

If quantity increases by 15 percent when prices increase 5 percent then elasticity for this product is _____

• A)15.
• B)10.
• C)5.
• D)3.
• E)1.

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Definitions:

Dispersal Patterns

The way in which organisms move or spread from their point of origin to other areas, affecting population dynamics and ecosystem structure.

Clumped Dispersion

The spatial distribution pattern of a population in which individuals are more concentrated in specific parts of the habitat. Also called aggregated distribution and patchiness. Compare with random dispersion and uniform dispersion.

Growth Rate

The rate at which the size of an organism or population increases, usually expressed as a percentage of increase over a specific period of time.

Population

A group of individuals of the same species inhabiting a specific geographical area and capable of interbreeding.