If the Price of a Cola Increased by 12

question 404

Multiple Choice

If the price of a cola increased by 12 % and consumers responded by purchasing 20 % less cola, the absolute value of price elasticity of demand for cola would be

• A) 0.20.
• B) 0.80.
• C) 1.67.
• D) 1.80.

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Definitions:

Preferential Transfer

A financial transaction made by a debtor before declaring bankruptcy that benefits one creditor over others, often subject to reversal during bankruptcy proceedings.

Fraudulent Transfer

A transfer of property made by a debtor with the intention of defeating a creditor's collection efforts.

Aggregate Debt

The total amount of debt owed by an entity, combining all debts, loans, and financial obligations.

Bankruptcy Judges

Judicial officers who preside over court proceedings related to bankruptcy cases, determining the legal outcomes for debtors and creditors.