Suppose That a 5% Rise in the Price of Apples

question 30

Multiple Choice

Suppose that a 5% rise in the price of apples does not cause the quantity demanded to change.The elasticity of demand for apples would then be:

• A)0)
• B) -1.
• C) -2.
• D) infinitely large.

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Definitions:

Psychometric Approach

A method in psychology that involves measuring mental capacities and processes through standardized tests.

Psychometric Method

A methodological approach in psychology that involves the measurement of mental functions, abilities, and processes through standardized tests and questionnaires.

Naturalistic Observation

An observational method where subjects are examined in their natural habitat, without any alterations made by the scientist.

Case Study

An in-depth examination of a single subject, group, event, or situation over a period of time for the purpose of detailed understanding and research.