If the Price Elasticity of Demand for a Good Is

question 97

Multiple Choice

If the price elasticity of demand for a good is 0.3,then a 20 percent decrease in price results in a

• A)0.015 percent increase in the quantity demanded.
• B)0.6 percent increase in the quantity demanded.
• C)6 percent increase in the quantity demanded.
• D)66 percent increase in the quantity demanded.

---

Definitions:

Beginner's Mind

An approach or attitude of openness, eagerness, and lack of preconceptions when studying a subject or engaging in an activity, much as a beginner would.

Make No Assumptions

A principle emphasizing the importance of approaching situations and interactions without preconceived beliefs or biases.

Unique Experiences

Experiences that are distinct and not common to most individuals, often contributing to personal growth or understanding.

Defining Goals

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives in therapy or personal development.