If the Price of Ice Cream Changes by 30 Percent

question 86

Multiple Choice

If the price of ice cream changes by 30 percent and the quantity demanded changes by 75 percent, what is the absolute value of demand elasticity?

• A) 2.5, so demand is inelastic
• B) 0.4, so demand is inelastic
• C) 0.4, so demand is elastic
• D) 2.5, so demand is elastic

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An individual who holds a position of authority within an organization and is responsible for decision-making and strategic direction.

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The authority and influence a person possesses within an organization due to the rank or role they hold.

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