If the Price Elasticity of Demand Is 2

question 30

Multiple Choice

If the price elasticity of demand is 2.5,then a 40 percent decrease in the price of the good will lead to a _______ percent increase in the quantity demanded.

• A) 150.00
• B) 100.00
• C) 66.7
• D) 22.

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Definitions:

Soluble

The property of a substance to be dissolved in a solvent, forming a homogeneous solution at a specified temperature and pressure.

Oxygen

A diatomic molecule that is a colorless, tasteless, and odorless gas essential for respiration in most living organisms.

Hydrogen

The lightest and most abundant chemical element in the universe, with the symbol H and atomic number 1, primarily found as H2 gas.

Isomers

Molecules that have the same molecular formula but differ in the arrangement of atoms, resulting in different properties.