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.

---

Definitions:

Single-Entry System

An accounting method where each financial transaction is recorded with a single entry to the accounting records, typically suited for small, simple businesses.

Accounting Records

Documentation of financial transactions and the financial status of a business, serving as a foundation for accounting.

Automatic Update

A feature in software that enables the automatic download and installation of new updates without manual intervention.

Patient or Vendor Accounts

Financial records detailing transactions between a patient or vendor and a healthcare provider or facility.