Holding Everything Else Constant, the Absolute Value of the Price

question 184

Multiple Choice

Holding everything else constant, the absolute value of the price elasticity of demand for Saucony tennis shoes is ________ the price elasticity of demand for tennis shoes.

• A) less than
• B) equal to
• C) twice as great as
• D) greater than

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Definitions:

Division

A mathematical operation involving the process of dividing one number by another to find how many times the divisor fits into the dividend.

Division

The process of ascertaining how many times one number is contained within another.

Addition

The mathematical operation of combining two or more numbers to calculate their total sum.

Multiplication

A mathematical operation that combines two numbers to get their product.