Consider the Supply Curve Q^s = 2P and the Demand

question 8

Multiple Choice

Consider the supply curve Q^s = 2P and the demand curve Q^d = 90 - P. Which expression best shows how you would calculate the elasticity of demand when P increases by 1 along the demand curve from its equilibrium value?

• A) [(59 - 60)/ (31 - 30)] x (30/60)
• B) [(56 - 60)/ (31 - 30)] x (30/60)
• C) [(59 - 61)/ (31 - 30)] x (30/60)
• D) [(59 - 62)/ (32 - 30)] x (30/60)

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Definitions:

Receptors

Specific molecules in cells that bind with particular substances, enabling the cell to respond to signals from its external environment.

Genotypes

The genetic makeup of an organism, referring to the specific sequence of DNA that determines individual traits and predispositions.

Recessive

A genetic trait that is expressed in an organism's phenotype only when two copies of the gene are present, as opposed to dominant traits, which require only one copy.

Anemia

A condition characterized by a deficiency of red blood cells or hemoglobin in the blood, leading to fatigue and weakness.