The Demand Function for Drangles Is Given by D(p)= (P

question 11

Multiple Choice

the demand function for drangles is given by D(p) = (p + 1) ^-2.If the price of drangles is $11, then the price elasticity of demand is

• A)-7.33.
• B)-3.67.
• C)-5.50.
• D)-0.92.
• E)-1.83.

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Definitions:

Long-term Growth

The sustained increase in the economic output of a country or region over a significant period.

Rules Of Game

The set of guidelines and principles that determine how a particular game or activity is conducted.

Business Cycle

The fluctuation in economic activity that an economy experiences over a period of time, marked by phases of expansion and contraction.

Mercantilism

An economic theory and practice where government regulation of a nation's economy is used to increase state power at the expense of rival national powers.