​Figure 53

question 123

Multiple Choice

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-If the price elasticity of demand for a product is equal to 4, a 1 percent increase in price of the product will cause the quantity demanded to _____ by _____ percent.

• A)increase; 0.25
• B)decrease; 0.25
• C)increase; 4
• D)decrease; 25
• E)decrease; 4

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Definitions:

Citric Acid Cycle

A succession of chemical processes that all oxygen-requiring organisms utilize to produce energy, achieved through the oxidation of acetate extracted from carbohydrates, fats, and proteins.

Carbohydrates

Organic compounds composed of carbon, hydrogen, and oxygen, usually with a 2:1 hydrogen to oxygen ratio, providing energy to the body through metabolism.

Lactic Acid

An organic compound produced in muscles during intense activity, in fermentation processes, and as a by-product in certain metabolic pathways, contributing to muscle fatigue.

Krebs Cycle

A series of enzymatic reactions in the mitochondria of cells that oxidize acetyl CoA to carbon dioxide and water, generating ATP and other high-energy compounds.