When the Price of Tacos Rises 4 Percent,the Quantity Demanded

question 162

Multiple Choice

When the price of tacos rises 4 percent,the quantity demanded decreases 10 percent.What is the price elasticity of demand for tacos?

• A)40.0
• B)25.0
• C)0.4
• D)2.5
• E)10.0

---

Definitions:

Cartel

An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize their collective profits.

Group Size

Refers to the number of individuals forming a group or team, often influencing dynamics and outcomes in organizational or social settings.

Major League Baseball

A professional baseball organization that is the oldest of the four major professional sports leagues in the United States and Canada.

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinates and unifies petroleum policies.