If the Price Elasticity of Demand for a Good Is

question 97

Multiple Choice

If the price elasticity of demand for a good is 0.3,then a 20 percent decrease in price results in a

• A)0.015 percent increase in the quantity demanded.
• B)0.6 percent increase in the quantity demanded.
• C)6 percent increase in the quantity demanded.
• D)66 percent increase in the quantity demanded.

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Definitions:

Receptor Cells

Receptor cells are specialized cells found in the senses (like those for taste, smell, and sight) that respond to specific stimuli by triggering an electrical signal.

Sense Organs

Specialized structures that detect external stimuli, allowing organisms to perceive the world around them.

Energy

The capacity to do work or to produce changes within a system, typically measured in joules or calories.

Sensation

The initial detection of stimulus energy (e.g., sound, light) by sensory organs and its conversion into neural signals.