The Own Price Elasticity of Demand for Apples Is −1

question 89

Multiple Choice

The own price elasticity of demand for apples is −1.5.If the price of apples falls by 6 percent,what will happen to the quantity of apples demanded?

• A) It will increase 4 percent.
• B) It will increase 9 percent.
• C) It will fall 4 percent.
• D) It will fall 6 percent.

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Definitions:

Temporal Lobes

Regions of the brain located on each side of the head above the ears, involved in processing auditory information and are associated with memory and emotion.

Hippocampus

A part of the brain involved in memory formation, organization, and storage, as well as playing a key role in spatial navigation and emotional regulation.

Testosterone

Testosterone is a steroid hormone primarily produced in male testes and female ovaries, responsible for the development of male secondary sexual characteristics.

Oxytocin

A hormone and neurotransmitter often associated with bonding, social behaviors, and reproductive actions.