A Government Wants to Reduce Electricity Consumption by 10

question 135

Multiple Choice

A government wants to reduce electricity consumption by 10%. The price elasticity of demand for electricity is -5. The government must ________ the price of electricity by ________.

• A) raise; 2.0%
• B) raise; 0.5%
• C) raise; 1.25%
• D) lower; 0.5%

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Definitions:

Protective Value

The degree to which something is capable of safeguarding from harm or adverse conditions.

Transmission

The act or process of transferring data or power from one point to another.

Paraphilia

Paraphilia involves sexual interests, fantasies, urges, or behaviors that are intense and focused on atypical and extreme subjects.

Sexually Arousing

Refers to something stimulating or exciting sexual desire or interest.