If the Price Elasticity of Demand Is Equal to 4,a

question 107

Multiple Choice

If the price elasticity of demand is equal to 4,a 1 percent increase in price will cause the quantity demanded to ____ by ____ percent.

• A)decrease; 25
• B)increase; 4
• C)decrease; 1/4
• D)decrease; 4
• E)increase; 1/4

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Definitions:

Chemical Bond

The force of attraction between atoms or ions that enables the formation of chemical compounds.

Atomic Number

The number of protons in the nucleus of an atom, determining the chemical properties of an element and its place in the periodic table.

Helium

A chemical element with symbol He and atomic number 2, known for being a lightweight, inert gas widely used in balloons and as a coolant.

Neon

A chemical element with the symbol Ne and atomic number 10, it is a colorless, odorless, inert monatomic gas under standard conditions, with about two-thirds the density of air and is used in fluorescent lamps and signs.