If the Value of the Price Elasticity of Demand Is

question 187

Multiple Choice

If the value of the price elasticity of demand is -0.2, this means that a

• A)20 percent decrease in price causes a 1 percent increase in quantity demanded
• B)0.2 percent decrease in price causes a 1 percent increase in quantity demanded
• C)5 percent decrease in price causes a 1 percent increase in quantity demanded
• D)0.2 percent decrease in price causes a 0.2 percent increase in quantity demanded
• E)100 percent decrease in price causes a 200 percent increase in quantity demanded

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Definitions:

Retain Moisture

The ability to hold or keep water or moisture within an object or environment.

Gymnosperm Reproduction

The method of reproduction in seed-producing plants (gymnosperms) that do not form flowers, involving the release of pollen to fertilize ovules.

Pollen Grains

Microscopic structures produced by the male part of plants, containing male gametes, used for fertilizing the female ovules in the process of sexual reproduction.

Flagellated

Describing cells or organisms that possess one or more flagella, which are used for movement.