If the Price of Good X Rises from $4 to $5

question 265

Multiple Choice

If the price of Good X rises from $4 to $5, and the quantity demanded of it falls from 200 units to 180 units, the absolute value of the price elasticity of demand is:

• A) 2.1.
• B) 0.47.
• C) 1.4.
• D) 0.4.

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Definitions:

Mucosa

The moist, inner lining of some organs and body cavities, such as the nose, mouth, lungs, and stomach, involved in absorption and secretion.

Peristalsis

The rhythmic muscular contractions that move a substance through a tract, such as food through the digestive tract and the ovum through the fallopian tube.

Esophagus

The muscular tube that transports food from the mouth to the stomach by sequential muscle contractions.

Acetaminophen

A medication used to reduce pain and fever, known for its minimal anti-inflammatory properties.