If a 1 Percent Change in Price Results in a 5

question 101

Multiple Choice

If a 1 percent change in price results in a 5 percent change in quantity demanded,then

• A)the price elasticity of demand is 5.
• B)the slope of the demand curve is 1/5.
• C)the slope of the demand curve is 5.
• D)the price elasticity of demand is 1/5.
• E)there is not enough information to calculate slope or elasticity.

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Definitions:

C3-C4

This term could refer to a variety of contexts; however, it often relates to the transition between the third and fourth carbon atoms in a molecular structure, possibly indicating a bond or functional group location.

Substituents

Atoms or groups of atoms that are substituted or replaced in the molecule of an organic compound, affecting its properties and reactions.

Axial Position

A spatial location in a molecule where substituents are perpendicular to the plane of a ring, such as in cyclohexane.

Bicyclic Structure

A chemical compound featuring two interconnected rings, which can vary in size and the atoms they contain.