Egg Producers Know That the Elasticity of Demand for Eggs

question 209

Multiple Choice

Egg producers know that the elasticity of demand for eggs is 0.1. If they want to increase sales by 5%, they will have to lower price by:

• A) 0.1%.
• B) 1%.
• C) 5%.
• D) 50%.

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Definitions:

(R)-2-Butyl Tosylate

A chiral organic compound where a butyl group is attached to a para-toluene sulfonate, used as an intermediate in organic synthesis.

Sodium Iodide

A salt with the formula NaI, used in organic synthesis, and as a dietary supplement.

TsCl

P-toluenesulfonyl chloride, an organic compound used as a reagent in organic synthesis to introduce tosyl groups.

(R)-Pentan-2-Ol

An optically active form of pentanol where the hydroxyl group is attached to the second carbon atom in the pentane chain.