If a 15% Increase in Price for a Good Results

question 116

Multiple Choice

If a 15% increase in price for a good results in a 20% decrease in quantity demanded,the price elasticity of demand is

• A)0.75.
• B)1.25.
• C)1.33.
• D)1.60.

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Definitions:

Close Corporation

A private company characterized by a limited number of shareholders and operated with less formal structures than a publicly traded company.

Formal Records

Official documents that accurately capture and store information or transactions for future reference.

Corporate Veil

A legal concept that separates the actions and liabilities of a corporation from those of its shareholders or directors.

Corporate Property

Assets owned by a corporation, including real estate, intellectual property, and physical goods.