The Table Below Shows the Quantities of Automobiles, Margarine, and Coffee

question 61

Multiple Choice

The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income.Table 6.2

-Suppose the price of a product is reduced from $10 to $6 and the quantity demanded increases from 40 to 60 units. From this we can conclude that the price elasticity of demand over this price range is equal to _____.

• A)1.2
• B)1.25
• C)0.80
• D)0.20
• E)0.5

---

Definitions:

Current Month

The month that is currently in progress according to the Gregorian calendar.

ICalendar File

A digital file format (.ics) used for storing calendar event details, which can be shared and imported into calendar applications.

.pst File

A file format used by Microsoft Outlook to store email messages, contacts, calendar events, and other data on the user's computer.

Backup

The process of copying files or data to a secondary location to safeguard against loss or corruption.