To Keep the Percentage Change in Quantity Demanded Equally Proportional

question 113

Multiple Choice

To keep the percentage change in quantity demanded equally proportional to the percentage change in price when the prices rise by 5 percent,a consumer would need to ________ quantity demanded by ________.

• A) increase; 5 percent
• B) decrease; 5 percent
• C) increase; 10 percent
• D) decrease; 10 percent
• E) increase; 2 percent

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Definitions:

Airplane Makers

Companies and manufacturers that specialize in the design and production of aircraft.

Required Skills

The specific abilities, knowledge, and expertise that are necessary for an individual to perform a job effectively.

Marginal Contribution

The additional benefit or output produced from using one more unit of a resource.

Professional Sports Players

Individuals who compete in athletic competitions and are paid for their performance and participation in sports.