If the Absolute Value of the Price Elasticity of Demand

question 109

Multiple Choice

If the absolute value of the price elasticity of demand for DVD movies is 0.8, then the elasticity of demand for the DVD for the movie The Hangover should be

• A) less than 0.8 in absolute value.
• B) greater than 0.8 in absolute value.
• C) equal to 1 in absolute value.
• D) equal to zero because the DVD of this movie has been out for several years.

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Definitions:

Speak Loudly

Raising the volume of one's voice to ensure audibility or to convey emphasis.

Eye Contact

The act of looking directly into another person's eyes, which can communicate various emotions or intent and is an important aspect of non-verbal communication.

Sit In Chair

The act of positioning oneself in a seated posture on a chair, commonly used to rest, work, or engage in activities at a table or desk.

Aphasia

A disorder resulting from damage to the parts of the brain that control language, leading to difficulties in speaking, understanding, reading, and writing.