Suppose That When the Price of Donuts Rises 10%, the Quantity

question 111

Multiple Choice

Suppose that when the price of donuts rises 10%, the quantity demanded of donuts falls 3%. Based on this information, what is the approximate absolute price elasticity of demand for donuts?

• A) 3.33
• B) 0.3
• C) 30
• D) 1.3

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Definitions:

Thymus

A primary lymphoid organ located in the chest, where T cells mature and differentiate.

Thyroid

A gland in the neck that produces hormones regulating heart rate, blood pressure, body temperature, and metabolism.

Apocrine

A type of gland that releases its secretions by shedding part of the cell, found mainly in underarm and groin areas.

Parotid

The largest salivary gland located near the ear, responsible for producing saliva to aid in digestion.