If Price Falls from $100 to $99 and Quantity Demanded

question 147

Multiple Choice

If price falls from $100 to $99 and quantity demanded rises from 2 to 3,the demand is

• A)0.03
• B)1.75
• C)25.7
• D)39.8

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Definitions:

Identify

To recognize and name someone or something as being a particular person or thing.

Bureaucracy

An organizational structure characterized by standardized procedures, hierarchical division of responsibilities, and adherence to fixed rules, often found in governments and large organizations.

Impersonal Organization

Describes entities structured to operate without personal considerations, relying on standardized procedures and roles to achieve objectives.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.