If an Increase in the Price of a Product from $1

question 160

Multiple Choice

If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is

• A)elastic
• B)inelastic
• C)unit elastic
• D)suggestive of an inferior good
• E)equal to -20

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Definitions:

Australopithecine Remains

Australopithecine remains are fossilized bone fragments and artefacts from early hominids belonging to the genus Australopithecus, key to understanding human evolution.

Hominin DNA

Genetic material that comes from hominins, our ancestors and relatives in the human evolutionary tree.

DNA Degradation

The breakdown or decomposition of DNA molecules, which can occur due to environmental factors, chemical reactions, or enzymatic processes.

Bottleneck Effects

A phenomenon where a population's size is significantly reduced for at least one generation, leading to a loss of genetic diversity.