If the Price Elasticity of Demand for a Good Is

question 191

Multiple Choice

If the price elasticity of demand for a good is 1.2,then a 3 percent decrease in price results in a

• A)0.4 percent increase in the quantity demanded.
• B)2.5 percent increase in the quantity demanded.
• C)3.6 percent increase in the quantity demanded.
• D)6 percent increase in the quantity demanded.

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Definitions:

Humanecosystem

An integrative concept that considers humans and their environment as an interconnected system, emphasizing interactions between people, communities, and their natural surroundings.

Ecosystems

Communities of living organisms in conjunction with the nonliving components of their environment, interacting as a system.

Sociologists

Professionals who study social behavior, patterns, and functions within human societies.

Cultural Diffusion

The spread of cultural beliefs and social activities from one group to another through interaction and integration.