If the Price Elasticity of Demand for a Good Is

question 64

Multiple Choice

If the price elasticity of demand for a good is 0.2,then a 3 percent decrease in price results in a

• A)0.6 percent increase in the quantity demanded.
• B)1.5 percent increase in the quantity demanded.
• C)2 percent increase in the quantity demanded.
• D)6 percent increase in the quantity demanded.

---

Definitions:

Emotional Expression

The way in which a person outwardly shows or communicates their emotions, through facial expressions, body language, or verbal communication.

Decision Making

The method of selection that involves pinpointing what decision needs to be made, collecting relevant information, and evaluating different potential solutions.

Emotional Reactions

The automatic, often unconscious, psychological responses elicited by various stimuli or situations, which can vary widely across different individuals.

Moral Decisions

The process of choosing actions that comply with an individual's ethical beliefs and values.