If Price Decreases by 10 Percent and Quantity Demanded Increases

question 88

Multiple Choice

If price decreases by 10 percent and quantity demanded increases by 3 percent, the price elasticity of demand will be

• A) 3.
• B) 0.3.
• C) 3.33.
• D) 300.

---

Definitions:

Company Diversity

Refers to a workplace that includes a wide range of differences among its employees, such as ethnicity, gender, age, religion, sexual orientation, and cultural background.

Cultural Obstacles

Barriers related to cultural differences that hinder progress in negotiations, communication, and understanding between individuals or groups.

Supportive Cultures

Workplace environments that prioritize employee well-being and facilitate interpersonal connection and support.

Groupthink

A psychological phenomenon in which people in a cohesive group go along with the group consensus rather than offering their own opinions.