Cogniti Inc

question 3

Multiple Choice

Cogniti Inc.manufactures high-end designer sports shoes.The company increased the price of its most popular brand of shoes,Sportsy,by 10 percent,and the demand for these shoes went up by 50 percent.Estimate the price elasticity for Sportsy.

• A)5
• B)10
• C)500
• D)50

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Definitions:

Corporate Welfare

Financial aid and benefits provided by the government to corporations, often criticized as favoritism towards big business.

Grassroots Environmentalism

Beginning in the 1980s, the fourth stage of the environmental movement; distinguished by the diversity of its members and belief in citizen participation in environmental decision making.

Conservation Era

The earliest stage of the environmental movement, which focused on the preservation of “wilderness” areas.

Mainstream Environmentalism

Beginning in the 1970s, the third stage of the environmental movement; characterized by enhanced organization, improved promotional campaigns and political tactics, and an increased reliance on economic and scientific expertise.