If the Income Elasticity of Demand for Good Smartphone Apps

question 84

Multiple Choice

If the income elasticity of demand for good smartphone apps is 5 and the percentage change in income is 10%, what is the percentage change in the quantity consumed?

• A) -0.5%
• B) -5%
• C) 50%
• D) 0.5%
• E) 2%

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Definitions:

Positive Charge

An electrical condition resulting from a deficit of electrons on an atom or molecule, leading to a net positive electric charge.

Series-parallel

A circuit configuration that combines elements in both series and parallel to achieve desired electrical characteristics.

Current Flow

The movement of electric charge carriers like electrons or ions, through a conductor or space, typically measured in amperes (A).

Electric Motor

An electromagnetic device that converts electrical energy into mechanical motion, used in a wide range of applications from household appliances to industrial machinery.